Palmdale Authorizes Bank of America Cash Management Services
City of PalmdaleCity · Palmdale, CA- Disclosed value
- Up to $2,000,000 per demand deposit account and $2,500,000 in aggregate; maximum allowable investment in any local bank is $1,000,000
- From budget
- Document date
- Nov 11, 2026
The 30-second brief
Palmdale authorizes banking and cash-management activities with Bank of America under its investment policy. The policy permits specified public-deposit levels and identifies a Bank of America Cash Management Sweep Agreement.
Bank of America holds this financial services contract with City of Palmdale. Its other public contracts on record include work for Tyler Independent School District and City of Manchester.
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Contract details
- Contract type
- Financial Services
- Amount
- Up to $2,000,000 per demand deposit account and $2,500,000 in aggregate; maximum allowable investment in any local bank is $1,000,000
- Document date
- November 11, 2026
- Vendor
- Bank of America
- Agency
- City of Palmdale
- Source document
- City of Palmdale Budget FY 2026-27 Adopted Budget 2026-11-11 (Budget)
Bank of America's other public contracts
More City of Palmdale contracts
Questions about this contract
Who was awarded the financial services contract by City of Palmdale?
Bank of America was awarded this financial services contract by City of Palmdale, as recorded on November 11, 2026. The contract value is Up to $2,000,000 per demand deposit account and $2,500,000 in aggregate; maximum allowable investment in any local bank is $1,000,000.
How much is the Bank of America contract with City of Palmdale worth?
The Bank of America contract with City of Palmdale is valued at Up to $2,000,000 per demand deposit account and $2,500,000 in aggregate; maximum allowable investment in any local bank is $1,000,000, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a budget record.
Where was this contract approved?
This contract appears in City of Palmdale Budget FY 2026-27 Adopted Budget 2026-11-11 (Budget), dated November 11, 2026 from City of Palmdale. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Bank of America hold?
Bank of America may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Palmdale currently buying?
Explore City of Palmdale's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.
