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Bennet council moves $1.1M to NPAIT and transfers $248,387.50 into SLGS
Summary
Council authorized moving $1.1 million from Union Bank & Trust into NPAIT and transferring $248,387.50 into SLGS bonds per a schedule provided by Council Member Jesse Schmidt. Both motions passed on roll call.
At the Nov. 10 meeting Council Member Jesse Schmidt proposed moving $1.1M from Union Bank & Trust into the Nebraska Public Agency Investment Trust (NPAIT); Dan Zieg moved and Pete Simmons seconded the motion, which passed on roll call. The council also voted to transfer $248,387.50 into SLGS bonds according to a schedule provided by Schmidt; the latter motion passed on roll call with YES votes recorded for Buck, Zieg, Simmons and Schmidt.
The minutes record the dollar amounts and the destination accounts but do not include an investment schedule or expected yield; Council Member Schmidt provided a schedule for the SLGS transfer that is referenced in the minutes. The council recorded these as routine financial-management actions during the meeting.
