Madison County Board of Commissioners Agenda 2026-05-19
County drafts retainage securities agreement with Farmers State Bank
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Description
Madison County prepared an agreement naming Farmers State Bank as the financial institution to hold pledged securities in lieu of retainage for the courthouse rehabilitation construction contract. The bank will provide custodial services and manage disbursements under county direction.
Contract Details
Vendor
FARMERS STATE BANK
Agency
Alder Elementary School District, MT
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Renewal Info
Agreement remains in effect until Madison County notifies the bank in writing that it has been breached, expired, or terminated; the bank may terminate its obligations with 30 days’ written notice and transfer securities to another institution under the same terms.
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