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Bland County Board renews CD, places $250,000 in 16-month promotional CD; enters executive session on administrator search
Summary
The Bland County Board of Supervisors unanimously voted Feb. 6 to renew a certificate of deposit and letter of credit with New Peoples Bank and to place $250,000 in a 16-month promotional CD. The board also convened an executive session to discuss the county administrator applicant review and contract and adopted the required certification on return to open session.
The Bland County Board of Supervisors voted unanimously on Feb. 6 to renew a certificate of deposit and a letter of credit with New Peoples Bank and to place $250,000 of county funds into a 16-month promotional CD.
Supervisor Randy Johnson moved to renew the CD and letter of credit and to authorize the promotional placement; Supervisor Stephen Kelley seconded the motion. A roll-call vote recorded yeas from Supervisor Randy Johnson, Supervisor Stephen Kelley, Supervisor Keith Costello and Chairman Adam Kidd, and the motion passed unanimously.
County Attorney Paul Cassell and Board Secretary Linda Miller were listed as also present during the meeting. The financial action affects county cash management by moving a designated amount into a promotional instrument at New Peoples Bank for the stated 16-month term.
Later in the meeting, the board voted unanimously to enter an executive session to discuss personnel matters associated with the county administrator applicant review and contract under Virginia Code §2.2-3711(A)(1). Supervisor Stephen Kelley made the motion to enter executive session and Supervisor Keith Costello seconded; the board approved the motion unanimously.
After returning to open session, the board adopted the Certification of Executive Meeting required by Section 2.2-3712 of the Code of Virginia. The certification vote was recorded with yeas from Supervisor Stephen Kelley, Supervisor Keith Costello, Supervisor Randy Johnson and Chairman Adam Kidd.
The board recessed the meeting until Feb. 10, 2023, at 5:30 p.m. at the Bland County Courthouse.
