Authorize for County Treasurer to have Bank of America Pledge Securities for Additional Collateral alongside with Wel...

Staff Report & Agenda Item Details

2025-1422 Authorize for County Treasurer to have Bank of America Pledge Securities for Additional Collateral alongside with Wells Fargo's Securities for Additional Collateral On a motion made by Commissioner Dr. Elba Garcia, and seconded by Commissioner Andrew Sommerman, the following order was passed and adopted by the Commissioners Court of Dallas County, State of Texas: BRIEFING DATE: December 2, 2025 FUNDING SOURCE: n/a Be it resolved and ordered that the Dallas County Commissioners Court does hereby Authorize Bank of America to pledge a block of Securities that are authorized under the Dallas County Investment Policy. The end result will be the same as using a Letter of Credit. Bank of America will pledge the additional authorized securities from December 1, 2025 through February 15, 2026. Done in open Court December 2, 2025 by the following vote: IN FAVOR: County Judge Clay Jenkins, Commissioner Dr. Theresa Daniel, Commissioner John Wiley Price, Commissioner Dr. Elba Garcia, and Commissioner Andrew Sommerman OPPOSED: None