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Silvis council approves 9‑month CD renewal at 4.5% despite one dissent
Summary
The council approved renewing an expiring certificate of deposit at 4.5% for nine months on Sept. 3; the motion passed 7–1 with Alderman Tony Trulson voting No.
The Silvis City Council voted Sept. 3 to renew an expiring certificate of deposit for nine months at an interest rate of 4.5%.
Alderwoman Chrissy Winters moved to approve the renewal and Alderman Doug Greer seconded. The council approved the motion 7–1; Alderman Tony Trulson recorded the lone dissent.
The item was first discussed in the Committee of the Whole earlier the same evening, where a motion to move the CD renewal to the regular agenda passed 7–1 (Trulson opposed). The minutes do not state the principal amount of the CD or the custodial institution.
Council members did not record any amendments to the terms during the meeting. Next administrative steps for the investment are not specified in the minutes.
