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Holly Springs council approves opening TSPLOST checking account at South State Bank
Summary
The council approved a resolution to open a Transportation Special Purpose Local Option Sales Tax (TSPLOST) checking account at South State Bank; staff said Cherokee County set up ACH credits and April was the first month of collections.
The Holly Springs City Council voted to open a checking account for the Transportation Special Purpose Local Option Sales Tax (TSPLOST) at South State Bank.
A staff member told the council, "We were contacted by Cherokee County last week, and they're setting up the ACH credits for the T Splast. April was the first month for T Splast collections, and so we need to formally open a bank account. And so it's ready for your signatures tonight. I think that miss Karen has those here for your signature." The transcript spells the tax name as "T Splast." The council's action authorizes the city to open the account to receive TSPLOST (Transportation Special Purpose Local Option Sales Tax) collections.
Council procedure on the item was brief. The staff member moved to accept item A and the Chair seconded; the Chair announced the motion "carries 4 0," indicating a unanimous vote in favor. The transcript does not include individual roll-call votes or the names of the four members who voted.
The account opening follows Cherokee County's setup of ACH credits for the TSPLOST program and the county's reported start of collections in April, according to the staff member's remarks. The staff member indicated signature documents were present at the meeting for council signatures.
The council did not discuss changes to the tax rate or uses of the funds during this agenda item. Next procedural steps are administrative: executing the account paperwork so collections can be received into the new account.
