Consider authorizing a Treasury Management Services Agreement, a Bond Accounting and Safekeeping Service Agreement, and related documents with PNC Bank, National Association.

Staff Report & Agenda Item Details

The City was notified that Wells Fargo would no longer provide Safekeeping Services for its Investments. Currently, these investments total approximately $7.5M. Therefore, the City issued a Request for Proposals on Wednesday, April 22, 2026. Responses were due on May 26, 2026. The City engaged Valley View Consulting to assist with the analysis of responses. Based on the responses received PNC Bank, National Association ("PNC") was selected.