Town of Cotton Board Meeting Minutes September 2025
Letter of Credit Secures Township Funds Through 2026
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Description
The Town of Cotton holds an Irrevocable Letter of Credit from the Federal Home Loan Bank of Des Moines for up to $200,000.00, expiring September 9, 2026. This instrument provides collateralization and security for township funds on deposit.
Contract Details
Contract Amount
Not to exceed $200,000.00
Vendor
FEDERAL HOME LOAN BANK OF DES MOINES
Agency
Town of Cotton, MN
Contract Type
FINANCIAL_SERVICES
Document Date
September 11, 2025
Contract Term
Until September 9, 2026
Renewal Date
2026-09-09
Renewal Info
Irrevocable Letter of Credit remains in effect until its stated expiration date of September 9, 2026; renewal or replacement would be required thereafter.
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