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Cavalier County commissioners renew $3.3 million in CDs; commissioner abstains over conflict
Summary
The Cavalier County Board of Commissioners approved renewal of four Horizon Financial certificates of deposit totaling about $3.294 million, with accrued interest deposited into County General. Commissioner Greg Goodman abstained, citing a conflict of interest.
The Cavalier County Board of Commissioners voted Aug. 20 to renew four certificates of deposit at Horizon Financial totaling approximately $3,294,660.17, with current interest accrued deposited into County General. Treasurer Cindy Stremick presented the renewal package to the board.
Austin Lafrenz moved to approve the renewals, seconded by Commissioner Stanley Dick; the motion carried. The renewals listed in the minutes were: County General $800,000 — 12 months at 4.75%; Prairie Dog $900,000 — 6 months at 4.85%; Capital Improvements $569,728.67 — 12 months at 4.75%; and Special County Highway $1,024,931.50 — 12 months at 4.75%.
Commissioner Greg Goodman abstained from the vote, citing a conflict of interest; the minutes record his abstention but do not specify the nature of the conflict. The minutes do not list a roll-call vote or individual yes/no tallies.
The action keeps county funds invested at the stated short-term rates; the minutes do not specify changes to cash-flow plans or contingencies should different rates be available elsewhere. No further financial action was taken at the meeting.
