Village of Montpelier Agenda 2026-05-26
Montpelier Awards Public Depository Agreement to State Bank
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Description
The Village of Montpelier entered a four-year Agreement for Deposit of Public Funds with The State Bank and Trust Company, appointing it as depository for up to $6 million each in active, interim, and inactive funds. The bank will secure the village’s deposits through participation in the Ohio Pooled Collateral Program through May 31, 2030.
Contract Details
Contract Amount
Active, interim, and inactive deposits each up to $6,000,000.00
Vendor
STATE BANK & TRUST COMPANY
Agency
Montpelier village, OH
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
June 1, 2026 – May 31, 2030
Renewal Date
2030-05-31
Renewal Info
Agreement runs from June 1, 2026 through May 31, 2030; any renewal or redesignation would need council action prior to expiration.
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