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Trustees extend depository contract with SouthState Bank for two years
Summary
The board approved a two-year extension of the district's depository contract with SouthState Bank, the first of two possible extensions before a future bid; the extension was approved unanimously.
Trustees voted to extend the district's depository contract with SouthState Bank for two years, which district staff said would delay a required bidding process for four years if this is the first extension.
Trustee Matt Morris moved to approve the resolution extending the contract; the motion was seconded by Beau Williams and the board approved the extension by a unanimous vote (6–0). Administrators noted that, under state rules, the district may extend the contract two times for two-year periods before soliciting new bids.
The extension means the district would have to go out to bid after the two-year extension period expires if no further extensions are taken; trustees did not identify a specific vendor or contractor beyond SouthState Bank during the discussion.
