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Supervisors approve $150,000 CD renewal from opioid-settlement funds to earn 3.95% for seven months
Summary
The board voted to renew $150,000 of the county's maturing opioid-settlement certificate of deposit for seven months at a 3.95% rate, leaving remaining funds liquid for upcoming applications.
Carroll County supervisors voted to renew $150,000 of a $200,000 certificate of deposit tied to opioid-settlement proceeds for seven months at a 3.95% interest rate.
Board members discussed leaving a portion of the proceeds available for anticipated grant requests and decided a $150,000 renewal would leave roughly $70,000 liquid for immediate use. The renewal was moved, seconded and approved by voice vote.
The opioid settlement fund committee expects to meet in January and review additional applications; supervisors noted that leaving some funds liquid will allow the county to respond to end-of-year or early-year requests without amending the budget.
Ending
County staff were asked to coordinate with the bank contact (Lisa) to effect the renewal and to leave the remaining funds in the county account for use as needed.
