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LAWA board names Gate City Bank as new depository, updates authorized signers
Summary
The Lake Agassiz Water Authority approved designating Gate City Bank as a LAWA depository and updated authorized signers for accounts, following Finance Advisory Committee recommendations to simplify operations and align bank services with partner organizations.
Maureen presented the Finance Advisory Committee's recommendation to designate Gate City Bank as a LAWA depository to address operational and administrative frictions with the current bank. "The recommendation ... would be to change and make Gate City Bank a depository," she said during the FAC report.
The board approved the recommendation by roll call and also updated authorized signers: Chair Mahoney, Executive Director Spencer Halverson, the project deputy manager and Susan Thompson as FAC co-chair. Staff said the change is intended to streamline daily operations and ease coordination with Garrison Diversion and other partners.
