Discussion and possible action to enter into a Depository contract with Falcon International Bank, as awarded by the Commissioners Court on May 12, 2025 (Request for Applications (RFA) 2025-001 "Bank Depository for Webb County"), for a four (4) year term with an additional two (2) year renewal term, effective June 1, 2025; 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.

Issue: At its March 24, 2025 meeting, the Commissioners Court directed the Purchasing Agent to advertise Request for Applications (RFA) for a Bank Depository for Webb County in accordance with Texas Local Government Code, Chapter 113 ("Management of County Money"), Chapter 116 ("Depositories for County Public Funds") and Chapter 117 ("Depositories for Certain Trust Accounts") as the current contract expires May 31, 2025.

Solution: At its May 12, 2025 meeting, the Commissioners Court awarded Request for Applications (RFA) 2025-001 "Bank Depository for Webb County" to Falcon International Bank.

Falcon International Bank was selected by Commissioners Court to be Webb County's Depository Bank.

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