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Omaha City Council upholds rejection of Principal Bank bid, citing missing bid security
Summary
After extended debate, the Omaha City Council denied Principal Bank’s appeal of a rejected custody-services bid, finding required bid security was not uploaded by the 11:00 a.m. deadline; the denial was upheld by a 6-0 roll call.
The Omaha City Council on a unanimous roll call denied an appeal from Principal Bank after finding required bid security was not submitted by the 11:00 a.m. deadline for custody services for the City of Omaha’s police and fire retirement plans.
Robert Coleman, representing Principal Bank, said the bank submitted a complete bid by the Oct. 29 deadline and that a cashier’s check was mailed and ultimately delivered the same day. “Our proposal included confirmation of a $50 cashier’s check issued from our partner bank, including both the check number and FedEx tracking numbers,”…
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