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Council approves extension of banking-services agreement with Keystone Bank through June 30, 2026
Summary
A staff member told the council the city has contractual language allowing a one- to two-year extension with Keystone Bank; the council approved an RFP agreement extension through 06/30/2026 and directed staff to pursue bids before the extension expires.
The council approved extending the city's banking-services agreement with Keystone Bank through June 30, 2026, following a staff presentation that said the contract includes an option to extend for one to two years. A staff member told the council that "I did put some of the verbiage in there that's from the contract to extend provide an option to extend for 1 to 2 year extension ending 06/30/2026," and noted the city would solicit RFP bids for banking services before that date.
A council member moved to approve the banking-services RFP agreement extension and another member seconded; the clerk recorded the approval. The staff member framed the action as a time-limited extension that preserves the option to bid banking services prior to expiration rather than a long-term commitment.
