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Gun Barrel City authorizes rollover of expiring certificate of deposit
Summary
Council approved Resolution R‑2025‑012 authorizing the city manager to close an expiring certificate of deposit and open a new one; city manager said he renewed one CD due to timing and the city will review reinvestment options with Hilltop Securities in January.
Gun Barrel City Council on Nov. 18 approved Resolution R‑2025‑012 authorizing the city manager to close an existing bank certificate of deposit expiring Dec. 15, 2025, and open a new CD in accordance with the city's investment policy and applicable law.
City Manager Dr. Doug Smith said the council had previously delegated authority to act on expiring CDs; because of a timing window he renewed one CD that day for four months at 3 percent. He told council that the city treasurer met with Hilltop Securities to discuss reinvestment options and that staff plan to hold a workshop in early January to review accounts and investment strategies, including potential Techstar program participation and EDC investment opportunities.
Councilmember (Speaker 3) moved to approve the resolution; Burns seconded. A roll‑call vote recorded 'yes' votes (Edwards; Henson; Jacobs; Evan; Burns) and the resolution passed.
