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Texas County designates county depository banks and investment partners
Summary
The Board adopted Resolution #178-25-26 naming the State Treasurer, Panhandle First Bank, Anchor D Bank and First National Bank (Hooker) as county depositories and designating Multi-Bank Securities, Public Trust Advisors and Oklahoma Class for investment services; the resolution limits deposits to FDIC coverage unless collateral is pledged.
The Texas County Board of County Commissioners adopted Resolution #178-25-26 on June 29, formally designating the State Treasurer (Oklahoma City), Panhandle First Bank (Guymon), Anchor D Bank (Guymon & Texhoma) and First National Bank (Hooker) as county depositories. The resolution also identified Multi-Bank Securities, Inc., Public Trust Advisors and Oklahoma Class as investment or advisory partners.
The resolution specifies safeguards for public funds: "no deposit of public money shall ever be made in any or either of said Banks in excess of Federal Deposit Insurance currently effective, plus notice from the State Treasurer of Unit Collateral lawfully pledged, unless and until adequate securities are pledged in a manner provided by law." The board recorded the action and noted that neither commissioners nor the county treasurer have pecuniary interests in the named banks.
The motion passed unanimously (Aye: Sledge, Bickford, Edwards) and was attested by County Clerk Wendy Johnson.
