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Center ISD keeps Shelby Savings Bank as depository after single bid
Summary
Trustees approved Shelby Savings Bank— the incumbent— as the district's bank depository after receiving a single proposal; motion carried 7-0.
Center Independent School District received one proposal for bank depository services and approved the bid from the incumbent Shelby Savings Bank. Trustee Casey Lout moved to award the depository to Shelby Savings Bank; Trustee Gregg Hubbard seconded the motion and the board voted 7-0 in favor.
Board materials note the proposal outlined offered services, interest rates on checking accounts and the collateral provided under the collateral agreement. The district did not report competitive alternatives at the meeting because only a single proposal was received.
