FINANCIAL_SERVICESAPPROVED

Town of Southold Awards Financial Services Contract to M&TBANK (January 2023)

The Town of Southold approved M&TBank as a 2023 municipal depository, including a $7 million collateral requirement for general deposits and $50 million for tax receiver accounts, and granted borrowing and collateral-pledging authority to the Supervisor and Deputy Supervisor. These banking powers remain in force until the town issues written revocation.

Document date · January 3, 2023

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$7,000,000 collateral requirement; additional $50,000,000 for tax receiver account
Contract type
FINANCIAL_SERVICES
Contract term
Fiscal year 2023; borrowing authority continues until revocation
Renewal
Depository and borrowing resolutions continue until written revocation is delivered to M&TBank.
Document type
AgendaPacket
Source document
Town of Southold Agenda Packet 2023-01-03

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Southold?

M&TBANK was awarded this financial services contract by Town of Southold, as recorded on January 3, 2023. The contract value is $7,000,000 collateral requirement; additional $50,000,000 for tax receiver account.

How much is the M&TBANK contract with Town of Southold worth?

The M&TBANK contract with Town of Southold is valued at $7,000,000 collateral requirement; additional $50,000,000 for tax receiver account, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Town of Southold Agenda Packet 2023-01-03 (AgendaPacket), dated January 3, 2023 from Town of Southold. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does M&TBANK hold?

M&TBANK 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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What is Town of Southold currently buying?

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