Consider Awarding the Contract to Serve as the Prim ary Depository for the Red River Authority of Texas and Maintain Custody of it s Funds for a Period of Three Years, from October 1, 2020 through September 30, 2023, and Take Any Other Action Deemed Necessary. Ms. Hefton stated that in comp liance w

Staff Report & Agenda Item Details

ith the Authority’s Inves tment Policy, bank depository bids were solicited for the thre e-year period beginning October 1, 2020 and ending September 30, 2020. She explained that certified letters requesting prop osals were mailed to seven local banks, and an official request for proposals advertisement was placed in the Times Record News, as well as on the Authority’s website. She stated that three banks submitted proposals; American National Bank and Trust (ANB), First National Bank (FNB), and Pilgrim Bank (PG). Referring to the bid tabulation, Ms. Hefton stated that ANB and F N B a r e e a c h o f f e r i n g competitive rates. However, ANB is offering a 50 basis point increase on the Aut

This motion is scored as RESTRAINS_GOVERNMENT (Impact Weight: 4.3/10). Under the Bastiat Liberty Watchdog Index, voting YES on measures that cap or reduce ad valorem tax burdens, expand taxpayer exemptions, retire debt early, enforce competitive bidding caps, or remove regulatory/zoning barriers to private property rights earns a positive Pro-Liberty score.