Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Investments topic
No spam. Unsubscribe anytime.
Sawyer County board approves reinvestment of maturing CD; clerk recommends local bank
Summary
The board approved reinvesting a maturing certificate of deposit after staff presented bids at roughly 3.88% and 3.95%; the clerk recommended keeping the funds local and investing with Franen (bid at 3.95%).
The Sawyer County board voted to reinvest a maturing certificate of deposit after the county solicited bids and the clerk recommended keeping the funds local.
In the investment report the clerk said interest rates remain above 3% and that interest revenue is exceeding last year. A maturing CD was put to bid; the transcript records one bid at 3.88% (bidder transcribed as "Ampersan" with a $6,000 fee noted) and two bids at 3.95% (transcribed as "Franen" and "PMA"). The clerk recommended reinvesting with Franen, saying that local placement was preferable.
The chair moved to approve the CD purchase at Franen; a second was recorded and the motion carried. The clerk noted net revenue figures for the county in discussion, but the transcript contains garbled numeric lines for the exact net amounts; the interest rates (3.88% and 3.95%) and the clerk's recommendation are clearly reported in the meeting.
