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Colbert County Schools board OKs $8 million CD for Career & Technical allocation
Summary
The Colbert County Schools Board unanimously authorized investing $8,000,000 of Career & Technical Regional Center funds in a 12‑month certificate of deposit at First Metro Bank at a 3.45% interest rate, with a one‑time penalty‑free withdrawal option.
The Colbert County Schools Board of Education on Feb. 19 unanimously approved investing $8,000,000 from the district’s Career & Technical Regional Center allocation in a 12‑month certificate of deposit at First Metro Bank. Superintendent Nathan Fuller recommended the investment, which the bank would issue at a 3.45% interest rate and permit one penalty‑free withdrawal before maturity if funds are needed.
The board approved the recommendation on a motion by Thomas Burgess, seconded by David Yarber, with a unanimous vote. The investment was described as a way to earn interest while preserving access to the allocation for future Career & Technical Center needs.
No further procedural steps or a timeline for withdrawing or reallocating the funds were specified in the meeting record. The board did not attach any amendments or conditions to the vote.
