City of Fairmont Minutes Regular City Council Meeting 2026-04-28
Fairmont Seeks Renewal of WesBanco $750K Letter of Credit
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Description
The Fairmont City Council introduced an ordinance to renew Letter of Credit No. 2001-525 with WesBanco Bank in an amount not to exceed $750,000. The letter of credit will secure the City's self-insured obligations under the West Virginia Workers’ Compensation Act for fiscal year 2026-2027.
Contract Details
Contract Amount
Not to exceed $750,000.00
Vendor
WESBANCO BANK
Agency
City of Fairmont, WV
Contract Type
FINANCIAL_SERVICES
Document Date
April 28, 2026
Contract Term
Fiscal Year 2026-2027
Renewal Date
2027-06-30
Renewal Info
Ordinance proposes renewal of existing Letter of Credit No. 2001-525 with WesBanco Bank for FY 2026-2027 to satisfy workers’ compensation self-insurance security requirements; details and final approval pending public hearing and adoption.
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