City Reviews Collateral Pledge With Local Bank

The council discussed a request involving United Farmers State Bank to temporarily increase pledged collateral during periods when the City receives Tax Remittance and Local Government Aid. The matter was presented by the insurance representative, with a request for written confirmation to the bank.

Document date · May 1, 2023

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Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

Temporary collateral increase during periods when the City receives Tax Remittance/LGA

Renewal

Temporary increase in pledged collateral requested only during periods of high city deposits from Tax Remittance/LGA.

Document type

Minutes

Source document

city_of_rose_creek_regular_council_meeting_minutes.pdf

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Rose Creek?

United Farmers State Bank was awarded this financial services contract by City of Rose Creek, as recorded on May 1, 2023.

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 city_of_rose_creek_regular_council_meeting_minutes.pdf (Minutes), dated May 1, 2023 from City of Rose Creek. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does United Farmers State Bank hold?

United Farmers State Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View United Farmers State Bank's profile

What is City of Rose Creek currently buying?

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