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Marion County staff recommend moving $300,000 from Road & Bridge reserves into a 4.15% CD
Summary
County staff told trustees the Road & Bridge fund has about $1.6 million in reserves and proposed placing $300,000 into a certificate of deposit at 4.15% with State Bank and Trust; staff said that bid was roughly 0.25 percentage points higher than other offers.
County staff recommended using a portion of Road & Bridge reserves to buy a certificate of deposit, citing available funds and comparative interest rates.
Scott told the board the Road & Bridge account balance is about $1.6 million and that the county has extra reserves that could be transferred into savings. "We have about 1.6…
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