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Fabens ISD awards two-year bank depository contract to Westar Bank
Summary
With one bid received, trustees approved a two-year bank depository contract with Westar Bank to run through June 30, 2027, after the district's public solicitation produced a single proposal.
Fabens Independent School District trustees approved a two-year bank depository contract with Westar Bank on a 6-0 vote July 16, the district’s finance director said.
Director of Finance Lily Nunez told trustees the district posted the solicitation June 12, emailed proposals to two banks and set a July 3 deadline; only Westar Bank submitted a proposal. "Only one bid proposal was submitted by West Star Bank, which is our current financial institution on July 3," Nunez said. The administration recommended awarding depository services to Westar Bank for an initial contract to begin in September and run through June 30, 2027.
Trustees moved and approved the administration’s recommendation without discussion.
Nunez said the district accepted the single proposal and recommended award; no alternate bids or comparative terms were presented at the meeting. The board’s approval authorizes district administration to finalize the depository agreement with Westar Bank for the two-year period described.
