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Board approves list of banks and investment pools as official depositories
Summary
The Sheboygan Area School District Board approved a slate of banks and investment vehicles as depositories for district funds, citing bylaw 0152. The list includes both national and local banks and the Local Government Investment Pool.
The Sheboygan Area School District Board of Education approved a list of financial institutions and investment vehicles to serve as official depositories for district funds, short-term investments and lines of credit, citing bylaw 0152 as the authority for the designations.
The administration recommended and the board approved the following institutions as depositories: Bank of New York Mellon Trust Company, N.A.; Wells Fargo Bank, N.A. (Wisconsin); U.S. Bank, N.A.; Associated Bank, N.A.; BMO Financial Group; Johnson Bank; Bank First National; Wisconsin Bank & Trust; State Bank (name recorded in transcript as "Cleveland Bank, excuse me, State Bank"); Polar Credit Union; the Local Government Investment Pool; Wisconsin Investment Services (corporate or cooperative, per transcript wording); and Midwest Institutional Trust Company.
The presiding officer called for a motion and a voice vote; the motion carried. The designation covers district funds, short-term investments, lines of credit, the recreation department and schools within the district as described in the recommendation.
