City of Novi Contract with Robinson Capital Management May 2026
Novi Authorizes Deposit Program with ADM via Advisor
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Description
Robinson Capital Management is authorized to execute a Deposit Account Agency Agreement with American Deposit Management Company for the City of Novi’s participation in a Deposit in Place Program. Under this arrangement ADM will place City funds in FDIC- or NCUA-insured depositories and manage insurance coverage, with fees paid by the City.
Contract Details
Vendor
AMERICAN DEPOSIT MANAGEMENT COMPANY
Agency
City of Novi, MI
Contract Type
FINANCIAL_SERVICES
Document Date
May 4, 2026
Renewal Info
Deposit Account Agency Agreement term and renewal provisions are not specified in the excerpt; participation is tied to the duration of the advisory relationship and may be adjusted or terminated as directed by the City or its advisor.
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