Discussion and possible action to enter into a Depository contract with Falcon International Bank as per RFA #2019-001 for a four (4) year term with an additional two (2) year renewal term, effective June 1, 2019, approving as security (in the amount of 110% of deposits, excluding FDIC insured accounts) an irrevocable letter of credit drawn of a third party federal bank, authorizing the release of the "good faith guarantee" and any matters incident thereto; authorizing the County Judge to sign all relevant documents.
Background:
Falcon International Bank was selected by Commissioners Court to be Webb County's Depository Bank.