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Council authorizes deposit agreement with JST Holdings (Resolution No. 25-266)
Summary
Resolution No. 25-266 authorizes the mayor to execute a deposit agreement with JST Holdings QOB, LLC for city expenses tied to a development project and permits the City Administrator to open a depository account; the council approved the resolution 5–0.
The council approved Resolution No. 25-266 authorizing the mayor to execute a Deposit Agreement with JST Holdings QOB, LLC, to cover city expenses related to a development project and authorizing the City Administrator to open and maintain a depository account. The motion was made by Cecilia Padilla-Lopez, seconded by Adrienne M. Deal, and carried 5–0.
The minutes record adoption of the resolution but do not provide the deposit agreement’s terms, amounts, or conditions. Parties or the city finance department would maintain the executed agreement and any related financial records.
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