Memphis City Council Resolution Reverend Dr. Gerald Rayborn Sr. Drive 2026-05-26
First Horizon cash security accepted for Brooks Museum
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Description
The Memphis City Council accepted a $731,300 cashier’s check from First Horizon Bank as financial security for the Memphis Brooks Museum of Art public improvement contract. The cash deposit replaces a traditional performance bond through June 30, 2028.
Contract Details
Contract Amount
$731,300.00
Vendor
FIRST HORIZON BANK
Agency
City of Memphis, TN
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
Through June 30, 2028 (matches secured contract term)
Renewal Date
2028-06-30
Renewal Info
Cash security held in lieu of bond for duration of improvement contract through June 30, 2028.
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