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Board selects Prosperity Bank as district depository; fees waived under proposed contract
Summary
After an RFP, the board approved a two‑year bank depository agreement with Prosperity Bank, which proposed waiving fees and collateral requirements.
The Liberty Hill ISD board approved a two‑year bank depository contract with Prosperity Bank, beginning Sept. 1, 2025, through Aug. 31, 2027, with options to renew for three additional two‑year terms.
CFO Melissa Guerrero reported the district solicited proposals from banks inside and outside district boundaries; four banks responded to the RFP. Prosperity Bank was recommended after in‑person interviews. District staff said Prosperity proposed to waive all account fees and collateralization requirements under the contract.
Trustee Wesley Neighbors moved approval and Trustee Katie Hargrove seconded the motion; trustees approved the agreement by voice vote.
Why it matters: A depository contract governs where a district holds operating cash, processes payments and manages treasury functions. Fee waivers and collateralization terms can produce operational savings and affect liquidity.
Next steps: The superintendent or his designee was authorized to finalize the agreement and execute contract documents.
Vote at a glance: Prosperity Bank depository contract — motion by Wesley Neighbors, second by Katie Hargrove; outcome: approved.
