Town Amends Securities Custodial Agreement With FHLB

The Town of Alpine ratified an amendment to its Securities Custodial Agreement with the Federal Home Loan Bank, reducing the required overnight operating balance to zero and allowing all available funds to be swept daily into an interest-earning secured repurchase account. This change is intended to maximize interest earnings and avoid a new monthly insurance fee on uninsured operating balances.

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Renewal

Amendment modifies prior custodial agreement terms by reducing the minimum overnight balance from $350,000 to $0.00 and authorizing full daily sweeps into a secured repurchase product; executed prior to meeting and subsequently ratified by Council.

Document type

Minutes

Source document

Town of Alpine Town Council Regular Meeting Minutes 2026-07-07

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Alpine?

Federal Home Loan Bank was awarded this financial services contract by Town of Alpine, as recorded on July 7, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Town of Alpine Town Council Regular Meeting Minutes 2026-07-07 (Minutes), dated July 7, 2026 from Town of Alpine. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Federal Home Loan Bank hold?

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