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Carlisle County OKs MOUs and account openings to receive park and water project funds
Summary
The fiscal court approved opening two bank accounts for incoming park and waterline funds, authorized a $725,000 MOU for the park/waterline project, and agreed to draw and deposit a $5 million water-project allocation while debating account type and interest strategy.
Carlisle County fiscal court voted to open two dedicated bank accounts to receive incoming funds for a park project and associated waterline work. Members said the accounts are needed before the county executes MOUs and begins drawing funds.
The court approved an MOU for $725,000 tied to the park/waterline project; the MOU will be signed by designated signatories (Greg and Mike) so funds can be drawn to the county. Speakers noted a two-year spending window for the $725,000.
The court also discussed a larger $5 million water-project allocation. Members debated whether to place the funds entirely in a checking account or split part into certificates of deposit. A bank representative’s quote of roughly 4.33% was cited for available interest on unpledged funds; members agreed to proceed with receiving the money and left final placement details to staff as they continue talks with bankers.
Votes on the account openings and the MOU passed by voice vote. Court members instructed staff to move paperwork forward and to coordinate signatories and account setup so incoming funds could be processed.
