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Florence council authorizes safekeeping-request reduction for Vera Bank
Summary
The council authorized the city administrator to sign a safekeeping request reducing Vera Bank's pledged book value total; the motion by Mary Condon was seconded by Mary Jane Swope and carried with no opposition.
The Florence City Council on Feb. 25, 2026, voted to authorize the City Administrator to sign and approve a safekeeping request to reduce Vera Bank's pledged book value total. Council member Mary Condon made the motion and Mary Jane Swope seconded; the minutes record no opposition and state the motion carried.
The minutes do not include further detail on the dollar amounts affected, the reason for the reduction, or the bank's specific holdings; those details are recorded in the minutes only as "reduce Vera Bank's pledged book value total" with no financial figures provided. The motion was recorded under deliberation agenda item 1.
No related amendments or follow-up deadlines are noted in the minutes.
