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Georgetown council approves $2.2 million reinvestment of matured funds
Summary
Council approved a municipal order to reinvest roughly $2.2 million of matured cash held at Stockyards Bank into longer-maturity municipal/agency securities, citing higher yields and available liquidity for a 2–7 year horizon.
Georgetown’s City Council on Nov. 24 approved a municipal order to reinvest about $2.2 million of matured investments held at Stockyards Bank into taxable municipal and agency securities with 2–7 year maturities. Finance staff said the funds do not need to remain liquid and that longer maturities would yield modestly higher returns than short-term U.S. Treasuries.
Stacy, the city’s finance staffer, told the council the…
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