Bank depositories approved for investing county funds

When it comes to investing county funds in order to receive the highest possible rate of interest, there’s no shortage of options for the Sequoyah County Commissioners.

The commissioners on Monday approved designating 11 banks as county depositories.

The financial institutions approved to receive county investments are:

• In Sallisaw — Armstrong Bank, Arvest Bank, Firstar Bank, Local Bank and National Bank of Sallisaw

• In Roland — Armstrong Bank and Firstar Bank

• In Gore — Armstrong Bank

• In Muldrow — Armstrong Bank • In Vian — Armstrong Bank

• In Oklahoma City — State Treasurer The annual renewal of county depositories allows the commissioners to inquire at each bank to determine the rate of interest before investing county funds in order to receive the highest rate of interest possible at the time.

In other business, the commissioners awarded a contract to IPS Construction, contingent upon approval from the district attorney’s office, for construction of a fire training facility driveway.

Reading from documentation from the Sequoyah County Tax Board accompanying the request to award the contract to IPS, District 3 Commissioner Jim Rogers said the board realizes “that IPS Construction is not the lowest bid, but IPS Construction is familiar with this project, having erected building, and is continuing to do work on it.”

District 1 Commissioner Ray Watts noted that “the lowest bid was $18,400, the IPS bid was $19,600, so it’s a $1,200 difference.”

District 3 Commissioner Beau Burlison added that the IPS bid “wasn’t the highest bid either. There’s two other bids that were higher than that.”

Rogers said the board’s decision to accept the lowest bid is allowable due to proximity and availability, as well as when just cause exists.

The commissioners also approved the appointments of:

• Janis Risley as requisitioning officer for OSU Extension, replacing Jace Goodwin

• Brad Taylor as requisitioning officer for Sequoyah County Emergency Management

• Angela Gist and Lisa Choate as requisitioning officers for Sequoyah County Treasurer’s Office

• Ginger Stump and Megan Cheater as receiving officers for Sequoyah County Treasurer’s Office

The commissioners also approved:

• An updated Disaster Recovery Plan for Fiscal Year 2025 for Sequoyah County Treasurer’s Office

• An updated Disaster Recovery Plan for Fiscal Year 2025 for Sequoyah County Clerk’s Office

• The 2024 Investment Policy for Sequoyah County Treasurer’s Office