Mount Prospect SD 57 Awards Financial Services Contract to Amalgamated Bank of Chicago Chicago Illinois (August 2026)

School District Number 57 appointed Amalgamated Bank of Chicago as tax escrow agent to hold and administer the 2025 Taxable Educational Purposes Tax Anticipation Warrant Fund. The bank will receive pledged property tax collections, invest them in a U.S. Treasury-only money market fund, and transfer funds to discharge the warrants.

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

Direction dated August 28, 2026; services tied to warrant term through March 1, 2027 and tax escrow operations until warrants fully paid

Renewal date

2027-03-01

Renewal

Escrow engagement is specific to the 2025 Taxable Educational Purposes Tax Anticipation Warrants and continues until warrant principal is fully paid and remaining funds are remitted to the District; no automatic renewal provisions are stated.

Document type

Resolution

Source document

School District Number 57 Resolution Issuance of Taxable Tax Anticipation Warrants 2026-08-20

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Mount Prospect SD 57?

Amalgamated Bank of Chicago Chicago Illinois was awarded this financial services contract by Mount Prospect SD 57, as recorded on August 20, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a resolution record.

Where was this contract approved?

This contract appears in School District Number 57 Resolution Issuance of Taxable Tax Anticipation Warrants 2026-08-20 (Resolution), dated August 20, 2026 from Mount Prospect SD 57. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Amalgamated Bank of Chicago Chicago Illinois hold?

Amalgamated Bank of Chicago Chicago Illinois may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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