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Buffalo County approves $10 million pledged collateral for treasurer
Summary
The Buffalo County Board of Commissioners voted unanimously Aug. 9 to add $10,000,000 in pledged collateral at First National Bank for the county treasurer, a measure moved by Sherry Morrow and seconded by Timothy Higgins.
The Buffalo County Board of Commissioners on Aug. 9 approved adding $10,000,000 in pledged collateral at First National Bank to secure county funds held by the treasurer.
The motion to "approve the addition of pledged collateral for the Buffalo County Treasurer in the amount of $10,000,000.00 at the First National Bank" was moved by Commissioner Sherry Morrow and seconded by Commissioner Timothy Higgins and carried on a unanimous roll call vote (Maendele, Loeffelholz, Higgins, Kouba, Lynch, Morrow and Klein). Chairman Ivan Klein presided.
County records show the board processed the change by voice roll call and noted the action in the meeting minutes. The board did not record further conditions or procedural qualifiers attached to the collateral authorization.
The board moved on to other routine business following the vote; no public comments on the collateral were recorded during the meeting.
