| Item Title: | Auditors - Rescind approval of 2 documents |
| Submitted By: | Edward A. Dion, County Auditor, County Auditor's Office (915) 546-2040 |
| Subject: | Rescind the approval of two documents attached to Item No. 7 from the July 30, 2018 Agenda to wit: Safekeeping Agreement (Institutional-No Foreign Securities) and Addendum to Frost Bank Safekeeping Agreement, and further approve the Safekeeping Agreement (Institutional-No Foreign Securities) and Addendum to Frost Bank Safekeeping Agreement, which has been amended to remove venue. (Contract No. 2017-0518) |
| Background: | Changes to the contract to provide safekeeping services for securities purchased by the County as investments. |
| Fiscal Impact: | This safekeeping agreement will allow the County to purchase investments for the purpose of earning higher yields on county funds and the safekeeping of those investment on behalf of the County. |
| Recommendation: | Approve the change in documents and authorize County Judge to sign necessary documents. |
| Prior Action: | Commissioners Court approved the safekeeping documents on July 30, 2018.
June 12, 2017 the Depository Bank Contract was approved with Inter National Bank (INB) and the County sought out safekeeping services with Frost Bank, as INB was not able to provide these services. |
| Strategic Plan: | .. |
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