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Bracken County Fiscal Court votes to roll over $1 million CD at 4.12%
Summary
The court voted unanimously to roll over a maturing $1,000,000 certificate of deposit for 12 months at a 4.12% rate, including accrued interest.
Bracken County Fiscal Court voted to renew a maturing $1,000,000 certificate of deposit for 12 months at a 4.12% annual interest rate and to roll the accrued interest into the renewed CD.
Judge Teegarden presented the maturity options and recommended rolling the principal plus accrued interest into a 12-month CD at 4.12 percent. "We put $1,000,000 in the CD. The current interest we've accrued is $20,708," the judge said, recommending renewal at the stated rate.
Commissioners discussed the choice of a 6-month versus 12-month term and the county’s need for short-term liquidity; one magistrate noted that if rates decline, the county would be locked into the 12-month rate, which was part of the consideration. The court's motion to roll the CD over for 12 months (including accrued interest) passed by unanimous roll-call vote.
Why it matters: The rollover keeps county funds earning interest at a rate the court deemed competitive and retains the county’s invested principal for another year.
Outcome: Motion to renew the CD for 12 months at 4.12% (roll principal + accrued interest) — approved unanimously.
