Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Owensville plans $938,513.59 Milford Winter investment and moves $1.37 million in CDs
Summary
City Administrator Randy Blaske told the Board the Milford Winter Endowment will receive $938,513.59 wired to First State Community Bank, and eight Wells Fargo Advisors certificates of deposit totaling $1,368,719.31 will be cashed and redeposited into new CDs, likely locally if rates are comparable.
City Administrator Randy Blaske reported that Milford Winter investment funds of $938,513.59 will be wired to First State Community Bank and placed in the Winter Endowment Fund; the city attorney has reviewed the proposed investment and staff were awaiting answers to remaining questions. Blaske also said eight certificates of deposit with Wells Fargo Advisors totaling $1,368,719.31 would be cashed in and redeposited into new certificates of deposit, likely at a local bank if interest rates are comparable.
Separately, Blaske requested that a 2010 Jeep Compass with approximately 63,575 miles be declared surplus and offered at sealed bid; Alderman Breeden moved and Alderman Kramme seconded the motion to declare the vehicle surplus and offer sealed bids until April 15, 2025, and the motion carried without dissent. No further financial authorizations were recorded at the meeting beyond the investment and CD-transfer direction to staff.
