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Toccoa hears First Citizens asset-management presentation; attorney questions investment risk
Summary
First Citizens representatives outlined municipal asset-management options to the Toccoa City Commission; City Attorney Greg Sowell asked follow-up questions about investment risk and legal implications. No action or decision was taken at the June 22 work session.
First Citizens representatives presented an overview of asset-management solutions to the Toccoa City Commission at a June 22 work session, describing services the bank could provide to the city. Alex Yaarem delivered the presentation and outlined product options available to municipal clients.
City Attorney Greg Sowell questioned whether the proposed investment arrangements exposed the city to legal or financial risks and asked for clarification about contract terms and liability. The presentation was recorded as information only; commissioners did not take a vote or direct staff to enter into any agreements at the meeting.
The exchange focused on risk and contract language; no procurement or formal directive was recorded. The commission may revisit the topic after the attorney drafts recommended contract language or staff returns with additional information.
