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Council keeps Lone Star National Bank as city depository and authorizes manager to execute agreements
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Summary
The commission approved a motion selecting Lone Star National Bank as the city's official depository and authorized the city manager to negotiate and execute depository agreements for up to five years. Commissioners cited the bank's local service and community participation in support of the decision.
The Rio Grande City Commission approved a motion to name Lone Star National Bank as the city's official depository and authorized the city manager to negotiate and execute depository agreements for a term not to exceed five years.
Commissioners noted Lone Star's long history of local involvement and service availability; a bank representative, identified in the meeting, thanked the commission for the continued selection. The motion to approve the scoring sheet and select Lone Star as the depository carried unanimously.
The commission's approval ratifies the scoring tabulation presented by staff and delegates execution of the necessary agreements to the city manager.
