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Council approves closing CD and transferring $121,706.88 for streets and alleys
Summary
Council approved closing a Certificate of Deposit maturing March 30, 2026 and transferring $121,706.88 into the town’s street & alley checking account to fund a planned skid steer purchase.
J. Hasty told the council that a Certificate of Deposit for streets and alleys matures on March 30, 2026 and that $121,706.88 of those funds will be needed for the purchase of a skid steer. The council voted to close the CD and deposit the funds into the town’s street & alley checking account; motion by D. Drake, seconded by M. Sexton, carried with the attending councilmembers voting yes and T.S. Barker absent.
The minutes record the amount and the intended use (skid steer purchase) but do not include contract or vendor details for the equipment or a payment schedule; staff are expected to execute the transfer and manage the procurement process.
