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Ridgeway council approves three certificates of deposit at First Horizon Bank
Summary
Council approved purchasing a one-year CD for $47,929, a one-year CD for $250,000 and a two-year CD for $250,000 at First Horizon Bank after a maturing CD was discussed.
At its Feb. 4, 2025 meeting, the Ridgeway Town Council approved moving funds into certificates of deposit at First Horizon Bank after discussing a maturing CD.
Mike Bass moved to purchase a one-year CD for $47,929.00, a one-year CD for $250,000.00 and a two-year CD for $250,000.00 at First Horizon Bank; Brad Hairston seconded the motion and the minutes record that the motion passed. The minutes do not specify which existing accounts or funds were used to purchase the CDs, nor do they record a vote tally or interest rates.
No additional discussion or amendments were recorded in the minutes. Council adjourned after completing the item.
