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Leoti moves four matured certificates of deposit to Security State Bank at 4.91% interest
Summary
City Treasurer Liz Gould reported four matured CDs; after reviewing bids (Western State Bank 4.400%, Security State Bank 4.910%), the council voted unanimously to move the deposits to Security State Bank at 4.91%.
City Treasurer Liz Gould reported that four certificates of deposit matured at Western State Bank and presented competing bids: Western State Bank at 4.400% and Security State Bank at 4.910%. Kelma Burch moved and Jim Kreutzer seconded to transfer the four CDs to Security State Bank at an interest rate of 4.91%; the motion passed unanimously.
The minutes do not specify individual CD amounts or maturities beyond noting there were four matured CDs; council action authorized the rollover to Security State Bank at the higher bid rate recorded in the meeting notes.
