Title
Resolution - Approval of Agreement Extension for Treasury Software Services - R Kruger
Other Info
Submitted By: Randy Kruger
Department: Finance
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session and in the confidential term sheet.
Discussion
GTreasury currently provides treasury services assisting with management of the Pedernales Electric Cooperative, Inc.’s (PEC or Cooperative) bonds and debt, as well as issuance of debt service payments. PEC previously entered into a one-year agreement extension for treasury management software services that terminates in August of 2026. The Cooperative continues to need the software services provided under that agreement and is seeking an additional three (3) year extension under similar terms.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Cooperative is authorized to execute a three (3) year extension to its current treasury software services agreement as discussed in Executive Session and in the confidential term sheet; and
BE IT FURTHER RESOLVED that the Chief Financial Officer, or designee, is authorized to take all such actions as needed to implement this resolution.