[1. Notice and Return]
[00:00:05]
THE TIME IS 11 11:02 A.M.. WE HAVE A QUORUM AND THE MEETING HAS BEEN DULY POSTED.
GOOD MORNING, AND WELCOME TO THE CALLED BOARD MEETING OF THE DALLAS INDEPENDENT SCHOOL DISTRICT BOARD OF TRUSTEES. IF YOU ARE ABLE, PLEASE STAND AND JOIN US FOR A MOMENT OF SILENCE AND REMAIN STANDING FOR PLEDGE OF ALLEGIANCE. I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA, AND TO THE REPUBLIC FOR WHICH IT STANDS, ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL.
HONOR THE TEXAS FLAG, I PLEDGE ALLEGIANCE TO THEE, TEXAS, ONE STATE UNDER GOD, ONE AND INDIVISIBLE.
A QUORUM OF THE BOARD IS PHYSICALLY PRESENT AT THIS LOCATION.
TRUSTEE FOR DISTRICT ONE LANCE CURRIE. TRUSTEE FOR DISTRICT TWO SARAH WEINBERG.
TRUSTEE FOR DISTRICT THREE DAN MICCICHE, I BELIEVE IS WITH US ONLINE.
TRUSTEE FOR DISTRICT FOUR. CAMILE WHITE IS IN THE BUILDING.
TRUSTEE FOR DISTRICT SEVEN BEN MACKEY. TRUSTEE FOR DISTRICT EIGHT JOE CARREÓN AND MYSELF TRUSTEE FOR DISTRICT NINE ED TURNER IS ALSO WITH US VIRTUALLY, I UNDERSTAND, YES. OUR SUPERINTENDENT OF SCHOOLS, DR.
STEPHANIE ELIZALDE, JOINS US, AND I AM JOE CARREÓN, BOARD PRESIDENT. THIS MEETING WILL BE AVAILABLE SIMULTANEOUSLY IN ENGLISH AND SPANISH AT DALLASISD.ORG. [SPANISH] IN ORDER FOR THE BOARD TO HOLD THIS MEETING IN AN EFFECTIVE MANNER.
I WANT TO LET IT BE KNOWN THAT THIS MEETING WILL BE CONDUCTED IN AN ORDERLY FASHION, AND ASK THE PUBLIC TO ABIDE BY THE RULES OUTLINED BY BOARD POLICY BED LOCAL PERTAINING TO PUBLIC PARTICIPATION. IT IS A CRIMINAL OFFENSE FOR A PERSON WITH INTENT TO PREVENT OR DISRUPT A LAWFUL MEETING, TO SUBSTANTIALLY OBSTRUCT OR INTERFERE WITH THE ORDINARY CONDUCT OF A MEETING BY PHYSICAL, PHYSICAL ACTION OR VERBAL UTTERANCE, AND THEREBY CURTAIL THE EXERCISE OF OTHERS FIRST AMENDMENT RIGHTS. SPEAKERS ARE CAUTIONED WHAT THEY SAY COULD VIOLATE THE RIGHTS OF OTHERS UNDER THE LAW OF DEFAMATION OR INVASION OF PRIVACY, AND IF THEY ARE UNSURE OF THE LEGAL EFFECT OF THEIR REMARKS, THEY MAY WANT TO SEEK LEGAL ADVICE PRIOR TO THE UTTERANCE. ANY PERSON WHO BECOMES BOISTEROUS, DISRUPTIVE, OR FAILS TO ABIDE BY THE RULES OF THIS ASSEMBLY WHILE ADDRESSING THE BOARD OR WHILE ATTENDING THIS MEETING, SHALL BE ASKED TO LEAVE. FAILURE TO LEAVE WHEN REQUESTED TO DO SO, MAY RESULT IN THE PERSON BEING ESCORTED FROM THE MEETING OR SUBJECT TO ARREST.
TRUSTEES OUR AGENDA NOW CALLS FOR AGENDA ITEM THREE, PUBLIC COMMENT.
HOWEVER, I WAS INFORMED NO ONE SIGNED UP TO SPEAK FOR THIS PARTICULAR MEETING.
TRUSTEES WE NOW MOVE TO AGENDA FOUR, CLOSED SESSION.
THE BOARD WILL NOW RETIRE TO CLOSED SESSION AT THIS TIME.
[5. Action Item]
TRUSTEES WILL NOW TURN TO AGENDA ITEM FIVE. CONSIDER AND TAKE POSSIBLE ACTION TO AUTHORIZE, NEGOTIATE, OR ENTER INTO AN AGREEMENT WITH RECOMMENDED VENDOR FOR DEPOSITORY SERVICES FOR DISTRICT WIDE USE, NOT TO EXCEED $2,400,000 OVER EIGHT YEARS, INCLUDING RENEWAL OPTIONS, GENERAL OPERATING AND BOND FUNDS.TRUSTEES DO I HAVE A MOTION? MOVE TO APPROVE.
SECOND. SECOND. OKAY, TRUSTEES, WE HAVE A MOTION AND A SECOND.
TRUSTEES [INAUDIBLE] SUPERINTENDENT ELIZALDE, WOULD YOU LIKE TO? YES. YES. THANK YOU. WHAT DID YOU SAY? PRESIDENT, WHAT DID YOU SAY? THAT SUPERINTENDENT ELIZALDE PROCESS WELLS FARGO'S PROPOSAL WAS DETERMINED BY THE ADMINISTRATION TO BE THE BEST VALUE.
THUS, ADMINISTRATION IS RECOMMENDING THE AWARD ON THIS DEPOSITORY SERVICES CONTRACT TO WELLS FARGO.
THIS IS AN IMPORTANT CONTRACT FOR THE DISTRICT, BECAUSE THESE DEPOSITORY SERVICES FORM A CRITICAL PART OF THE DISTRICT'S FINANCIAL INFRASTRUCTURE. INDEED, SO IMPORTANT THAT THE LEGISLATURE HAS DEVOTED AN ENTIRE SUBCHAPTER OF THE TEXAS EDUCATION CODE TO MEMORIALIZE HOW SCHOOL DISTRICTS LIKE DALLAS ISD MUST PROCURE AND CONTRACT FOR THESE DEPOSITORY SERVICES.
WE CAN REFERENCE THAT TEXAS EDUCATION CODE, CHAPTER 45, SECTIONS 45.201-209.
WE HAVE FOLLOWED AND WILL CONTINUE TO FOLLOW THIS STATE LAW.
ALTHOUGH THE CONTRACT COULD LAST FOR UP TO EIGHT YEARS, THE INITIAL TERM OF THE CONTRACT IS TWO YEARS, BEGINNING JULY 1ST, 2025 AND ENDING ON JUNE 30TH, 2027.
THEREFORE, IN JUNE 2026, WE WOULD PRODUCE A REVIEW OF THE SERVICES PROVIDED BY WELLS FARGO DURING THE PRIOR YEAR TO ENSURE THAT WELLS FARGO IS DELIVERING THE QUALITY OF SERVICES THAT THE DISTRICT EXPECTS.
[00:05:03]
WELLS FARGO PROMISED THE DISTRICT A AND I QUOTE "FOUNDATIONAL RELATIONSHIP" UNQUOTE, WITH DALLAS ISD, AND WE ABSOLUTELY INTEND TO HOLD THEM TO THAT PROMISE.IN THE EVENT THAT WELLS FARGO IS NOT MEETING THE EXPECTATIONS IN ANY WAY, DOING A REVIEW AT THE ONE YEAR MARK WILL GIVE US SUFFICIENT TIME TO ADDRESS THE ISSUE AND, IF NECESSARY, RE-PROCURE THE SERVICES BEFORE THE CONTRACT EXPIRES.
WE HAVE EVERY REASON TO BELIEVE THAT WELLS FARGO WILL CONTINUE TO BE A GOOD PARTNER TO THE DISTRICT, AND WE LOOK FORWARD TO PROVIDING THE REPORT IN JUNE OF 2026.
THANK YOU SUPERINTENDENT. TRUSTEES, ARE THERE QUESTIONS? AND THEN I'M JUST GOING OFF THE. OKAY. SO OKAY.
I'M LOOKING AT THE SCREEN TRUSTEE FOREMAN BUT GO AHEAD. THANK YOU SO MUCH.
BECAUSE I ACTUALLY HAD MY LIGHT ON BEFORE THE SUPERINTENDENT SPOKE.
SUPERINTENDENT, I HAD SENT A SERIES OF QUESTIONS REGARDING THIS PARTICULAR CONTRACT, AND I HAVEN'T SEEN THE ANSWERS TO THAT SERIES OF QUESTIONS. WERE ALL OF THE QUESTIONS ANSWERED THAT WERE IN THE TRACKER? NO, ACTUALLY, I HAVE AN EMAIL FROM YOU SAYING THAT THE QUESTIONS THAT I HAD SENT WOULD BE ANSWERED.
I DON'T RECALL WHICH QUESTION. SO THE QUESTIONS WERE SUBMITTED TO WHOM? THEY WERE SUBMITTED TO BOARD SERVICES, AS I ALWAYS SUBMIT THE QUESTIONS.
DR. LEAR, ARE THERE ANY QUESTIONS THAT WERE UNANSWERED THROUGH BOARD SERVICES? OKAY. I'M GOING TO LET THEM GO AHEAD AND SPEAK, AND I'LL FIND THE EMAIL AND I'LL READ IT TO YOU.
IT MAY BE TRACKER 1742 THAT SHE MAY BE REFERRING TO, BUT THAT WAS ANSWERED.
TRUSTEE WHITE. OH I HAVE I HAVE A QUESTION FROM WHAT WAS JUST WHAT THE I GUESS FOR THE SUPERINTENDENT. AND GOOD MORNING TO YOU, BY THE WAY.
WHAT IS CONSIDERED A FOUNDATIONAL RELATIONSHIP? WHAT EXACTLY ARE THEY SAYING THAT IS? THAT WOULD REFER TO WHAT'S IN THE RFP.
AND SO THAT'S THE LANGUAGE THAT WAS IN THERE.
SO LEGALLY, I MUST UTILIZE THAT SAME LANGUAGE.
SO WHAT WHAT ARE THOSE FOUNDATIONAL RELATIONSHIPS THAT IS MENTIONED? I MEAN IS IT SOMETHING LIKE WE WILL SERVICE AND WE WILL ALSO DONATE.
WHAT WHAT ARE SOME OF THE BECAUSE I HAVEN'T SEEN SECTION 44.201 WHICH MUST, BY THE WAY WHERE IN 42.201 WILL I FIND THIS OR IS IT GOING TO BE IN 42.209? I CAN PULL THE RELEVANT STATUTES AND GET THAT AND PROVIDE THAT TO YOU.
THANK YOU. AND THE NEXT QUESTION IS, SO SINCE WE DO KNOW THAT THERE IS A TWO YEAR PERIOD, AND THAT'S GOING TO BE FROM JULY 1ST THROUGH JUNE 30TH OF 2027. BUT WE'RE GOING TO REVIEW IN JUNE. WHAT DATE EXACTLY IN JUNE WILL THE REVIEW TAKE PLACE OR BEFORE IT NEEDS TO HAPPEN IN JUNE? I'M ONLY COMMITTING TO THE MONTH OF JUNE 2026.
I HAVEN'T SELECTED A DATE YET. OKAY, SO IT HAS TO BE DONE BY THE 30TH OF JUNE, WITHIN THAT MONTH.
OKAY. THOSE ARE MY QUESTIONS FOR RIGHT NOW. THANK YOU.
TRUSTEE MACKEY. YEAH. DR. ELIZALDE I JUST WANT TO SAY THANK YOU FOR DIGGING INTO THIS.
I KNOW WE HAD A LONG DISCUSSION LAST TIME, AND I APPRECIATE THE THOUGHTFULNESS TO BE ABLE TO IDENTIFY HOW WE CAN THINK ABOUT THIS AND MAKE SURE THAT ANY VENDOR WE WORK WITH, WELLS FARGO OR OTHERWISE, IS LIVING UP TO THE COMMITMENTS OF WORKING WITH DALLAS ISD IN GOOD FAITH.
AND I HAVE FULL FAITH THAT YOU WILL CONTINUE TO MAKE SURE THAT THAT'S THE CASE.
[00:10:01]
WE CAN'T GO WITHOUT A BANK. THERE'S A LOT OF OPPORTUNITIES THERE.WE WENT THROUGH THE RFP PROCESS, AND WE WILL BE COMING UP ON THE DEADLINE SOON.
SO I JUST THANK YOU FOR FINDING A WAY TO KIND OF THINK THROUGH THIS AND HEAR THE CONCERNS AND FIND SOMETHING THAT WILL GIVE US THE OPPORTUNITY TO MOVE FORWARD WITH WHAT WE NEED TO DO. BUT ALSO, YOU KNOW, LIKE WE WOULD ANY VENDOR MAKE SURE THAT THEY ARE PERFORMING TO THE EXPECTATIONS THAT WE WOULD HAVE.
SO THANK YOU. TRUSTEE JOHNSON. YES. THANK YOU.
AND I WANT TO THANK MY COLLEAGUES ON THIS BOARD AND THE ADMINISTRATION.
I KNOW THAT WAS A TOUGH DISCUSSION, AND I WOULD APPRECIATE THE SUPERINTENDENT AND THE ADMINISTRATION AND THIS BOARD FOR TAKING THIS, THAT THAT CONCERN IN A VERY SERIOUS AND SENSITIVE MANNER.
AND I ECHO WHAT TRUSTEE MACKEY JUST SAID FULL HEARTEDLY.
SO THANK YOU, DR. ELIZALDE, FOR WHAT YOU'VE DONE AND WORKING THROUGH THIS.
THANK YOU SO MUCH. TRUSTEES IS THERE ANY OTHER DISCUSSION FOR ROUND ONE? I HAVE I HAVE A QUICK QUESTION. OKAY. LET'S GO TO ROUND TWO, TRUSTEE WHITE.
I'M SORRY. WELL I'M SORRY SUPERINTENDENT, WHAT ARE THOSE STATUTES AGAIN BECAUSE I HAD I THOUGHT YOU SAID 44.201 THROUGH. NO. NO, MA'AM. TEXAS EDUCATION CODE, CHAPTER 45, SECTIONS 45.201-209. THANK YOU. YOU'RE WELCOME.
[INAUDIBLE] FURTHER DISCUSSION FOR ROUND TWO? TRUSTEE FOREMAN. OKAY, I'M TRYING TO TRYING TO PULL IT UP, IT WAS 1742 THAT WAS ANSWERED YESTERDAY AND I HAVEN'T HAD A CHANCE TO REALLY LOOK [INAUDIBLE]. SO MY FIRST QUESTION WAS REGARDING ALL BIDDERS RECEIVING THE RESPONSE AT THE SAME TIME. YES, THAT'S CORRECT.
THEY WERE ALL MAILED AT THE SAME TIME. SO THERE WERE NO LATE MAILINGS ON THE VENDORS? NO, MA'AM. ALL RIGHT. THANK YOU. SO THE VENDOR THAT WE ELIMINATED BECAUSE THEY DID NOT PRINT CHECKS. DID THAT VENDOR INDICATE THAT ON THEIR THEIR REPORT PROPOSAL? YES. OR DID WE ASK THAT PARTICULAR QUESTION? IT WAS IN THEIR IN THEIR VENDORS RESPONSE.
OKAY. AND DID WE GO BACK TO THE VENDOR AND ASK ANY QUESTIONS REGARDING THAT? WE DON'T ASK CLARIFYING QUESTIONS THAT THEY GET ONE SHOT AT THE TO PROVIDE A RESPONSE.
LANCE IS TRYING TO HELP ME OUT HERE BECAUSE I'M LOOKING AT THIS LITTLE PHONE.
MIC] OKAY, SO WHEN WE INDICATED THAT WE THERE'S A POSSIBILITY TO REBUILD THE THE CONTRACT BECAUSE THERE ARE, LIKE, TWO YEAR CONTRACT PERIODS. IS THAT ON THE FACE SHEET OR ARE WE JUST SAYING THAT IT'S AN EIGHT YEAR CONTRACT? ON THE BOARD DOC, UNDER CONTRACT TERMS, IT SPELLS IT OUT THAT IT'S A TWO YEAR WITH THREE, TWO YEAR RENEWAL OPTIONS.
SO YOU NO, IT'S BEEN ORIGINALLY THERE. YES. YES, MA'AM.
OKAY. THANK YOU. IS THERE ANY ANYTHING IN LAW THAT SAYS WE'RE ONLY LIMITED TO ONE DEPOSITORY? SO OUR SPECIFICATIONS STATED THAT WE WANTED ONE VENDOR AND TEA ONLY REQUIRE WILL ONLY ALLOW ONE VENDOR TO RECEIVE THE FUNDS. SO THERE IS SOMETHING IN LAW THAT SAYS WE CAN ONLY HAVE ONE VENDOR TO BE THE DEPOSITORY.
YES. OKAY. COULD YOU COULD YOU SHARE WITH ME WHAT THAT IS?
[00:15:01]
I CAN GET THAT TO YOU. CAN YOU GET THAT TO ME, PLEASE? OKAY. THANK YOU. OKAY, SO THAT ANSWERS MY QUESTIONS. THANK YOU. THANKS YOU GUYS.TRUSTEE MICCICHE OR TURNER ONLINE, ANY QUESTIONS? OKAY. TRUSTEES SEEING NO FURTHER DISCUSSION, PLEASE CAST YOUR VOTES.
MICCICHE VOTES YES. THANK YOU. TRUSTEE TURNER.
TRUSTEE TURNER VOTES YES. THANK YOU.
THE MOTION PASSES UNANIMOUS. TRUSTEES YOU JUST ADOPTED TO AUTHORIZE, NEGOTIATE, AND ENTER INTO AN AGREEMENT WITH RECOMMENDED VENDOR FOR DEPOSITARY SERVICES FOR DISTRICT WIDE USE. THE TIME IS 11. EXCUSE ME.
EXCUSE ME. POINT OF INFORMATION CHAIR. WHILE I WAS READING THROUGH THIS STATUTE, AND I'M WONDERING IF WE NEED TO DO A DISCLOSURE ON THIS IN THE FUTURE, BECAUSE IT WAS STATING THAT IF ANY MEMBER OF THE BOARD HAS ANY THE BOARD OF TRUSTEES.
I'M SORRY. I'M READING FROM 45.201. IF A MEMBER OF THE BOARD OF TRUSTEES OF A SCHOOL DISTRICT IS A STOCKHOLDER, OFFICER, DIRECTOR, OR EMPLOYEE OF A BANK THAT HAS A BID SUBMITTED PROPOSAL TO BECOME A DEPOSITORY FOR THE DISTRICT, THE MEMBER MUST MAY NOT VOTE ON AWARDING DEPOSITORY CONTRACTS TO THE BANK, AND THE CONTRACT MUST BE AWARDED BY A MAJORITY VOTE OF THE TRUSTEES, AS PROVIDED BY SUBSECTION A, WHO ARE NOT EITHER A STOCKHOLDER, OFFICER, DIRECTOR, OR EMPLOYEE OF A BANK RECEIVING DISTRICT DEPOSITORY CONTRACTS.
I JUST WANT TO, IN THE FUTURE, ON THE NEXT TWO YEARS, THAT OR EVEN IF WE DO IT NOW TO MAKE SURE THAT WE DO DISCLOSE THIS INFORMATION SO THAT EVERYONE WOULD KNOW THAT WE ARE NOT. THANK YOU FOR YOUR TIME.
TRUSTEES [INAUDIBLE] AND THIS MEETING IS ADJOURNED.
FOR THE BRIEFING UNTIL 11:30. SO YOU HAVE 10 MINUTES,
9 MINUTES AND 45 SECONDS.
* This transcript was compiled from uncorrected Closed Captioning.