Milton staff await Truist reply as city seeks higher returns on reserves
Council received an update on a planned transfer of funds from a Truist money-market account to a Regions Treasury-bonds account; staff said Truist requested two weeks to consult corporate counsel and that the chief financial officer handles city investments under policy.
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City staff told the Milton City Council they are waiting for Truist Bank to respond to a request to move city funds from a Truist money-market account into a Regions Bank Treasury-bonds account after the council previously authorized documentation to open the Regions accounts.
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