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Bonham council accepts October financial report, adopts investment policy
Summary
The council accepted the October 2025 financial report, noting a 5% sales tax rate and payment of TML insurance in October to obtain a discount, and unanimously adopted the City of Bonham Investment Policy with no changes from the prior year.
Sarah Osburn reported the city's October finances, stating the city pays its TML insurance in full in October to receive a discount and that "sales tax is currently holding at 5%." After the report, Council Member Ernie Quintana moved and Kevin Hayes seconded acceptance of the financial report; the motion carried unanimously, 6-0.
Osburn also presented the annual review of the City of Bonham Investment Policy, noting there were no changes from the prior year. Council Member Allen Sanderson moved and Clark Smith seconded adoption of the resolution approving the policy; the motion carried unanimously, 6-0.
No additional policy changes or budget amendments were discussed at the meeting. The council directed staff to continue regular reporting as prescribed by the City's financial procedures.
