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Griggs County commissioners approve reinvesting matured county CD into 12‑month certificate
Summary
The Griggs County Commission voted unanimously July 28 to reinvest a matured county certificate of deposit into a 12‑month CD at the bank holding the account, following staff review of rates from three banks.
Griggs County commissioners voted unanimously July 28 to reinvest a county certificate of deposit that matured earlier in July into a 12‑month certificate, officials said at a special meeting.
County staff presented the item and said they solicited rates from three banks and recommended keeping the funds at the bank that currently holds the account (identified in the meeting transcript as “Rivera”) and taking the 12‑month rate that staff reported was the best offer. The board approved the action by voice vote.
Maddie, a county staff member, told commissioners that the CD had matured earlier in July and that staff had compared offers from three banks. "So we have a CD at Rivera that is that has matured on the 20 fifth. So, got together rates and the best rate if you keep it at Rivera, it's at 400,000. The 12 month rate is 4.15. It was the best out of all 3 banks," Maddie said in the meeting transcript. The transcript contains a later, unclear reference to a different rate; the board record provided at the meeting did not resolve that discrepancy.
Commissioner Zorn made the motion to accept staff’s recommendation to reinvest for 12 months; Commissioner Edlin seconded. Commissioners recorded their votes by name: Zorn (aye), Edlin (aye), Gabriel (aye), Allison (aye) and Charlie (aye). The motion carried.
The meeting included two routine procedural votes before and after the CD action: the board approved the meeting agenda by voice vote at the start of the special meeting, and approved a motion to adjourn after the CD vote.
The transcript and staff remarks identified the principal amount as $400,000 and cited a 12‑month rate of 4.15% as the best of the options staff reviewed; the meeting record did not specify the precise maturity date in clear form and included a short, unclear reference to a different percentage. The bank name appears in the transcript as "Rivera." The county did not provide additional written materials in the transcript excerpt reviewed for this article.
The action affects Griggs County’s short‑term cash management and keeps county funds invested for an additional year under the terms reported by staff. No additional follow‑up actions or contingent approvals were announced during the meeting.
