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Mayor Wilson proposes moving $200,000 into certificates of deposit; no vote recorded
Summary
Mayor Wilson asked the Board of Aldermen for approval to transfer city funds into certificates of deposit and suggested $200,000 from the General Fund; Alderman Joe Harris recommended splitting the funds into thirds for liquidity. The transcript records discussion but no formal motion or recorded vote on the transfer.
Mayor Wilson told the Board of Aldermen on Dec. 3 that she would like to move funds from the city's Utility and General Funds into certificates of deposit and proposed moving $200,000 from the General Fund.
"Mayor Wilson would like to move $200,000 from the General Fund," the minutes record. Alderman Joe Harris said the money should be "divided up into 1/3's in case the funds were to be needed and terminated before the CD were to mature, which would allow for less of a loss of interest."
The exchange in the minutes records the proposal and a suggested approach to reduce liquidity risk but does not show a formal motion, second or roll‑call vote on the transfer. The transcript therefore does not document an authorization or implementation detail for the proposed move.
The board also read a standard closed‑session notice listing exemptions under 610.021 (legal actions; real estate; personnel; bidding specs; personnel records; proprietary technology; audits; employee negotiations). The minutes do not show that a closed session was held following that notice.
Next steps are not recorded in the minutes; if the board intends to act on the investment proposal it would require a subsequent formal motion and a recorded vote.
