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. (continued) Market and confirmed that a

Staff Report & Agenda Item Details

20 basis point increase over TexPoo l on Insured Cash Sweeps will continue with ANB. Further, she stated that Pilgrim Bank could n o t m e e t c o l l a t e r a l requirements. Additionally, Mr. Hefton explained the steps and costs that it would entail to switch the Authority’s depository account to a different bank. She added that it is staff’s recommendation to continue depos itory services with ANB. Mr. B oykin inquired as to whether actual costs to change banks had been calculated. Ms. Hefton r eplied that actual costs had not been calculated. Following minor discussion, Mr. Daniel made a motion to award t he contract to American National Bank and Trust to serve as the primary depositor

This motion is scored as RESTRAINS_GOVERNMENT (Impact Weight: 5.0/10). 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.