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Council renews pool CD for 7 months at 3.9% to retain flexibility
Summary
The council voted to renew a maturing pool certificate of deposit for seven months at 3.9% rather than a two-year option, with Councilmember Alex Hamilton citing potential future fundraising needs by the pool committee.
Finance Officer Trudy Waterman told the council the city’s pool certificate of deposit was maturing on April 23, 2025 and presented two options: a 7-month renewal at 3.9% or a 2-year renewal at 3.84%. Councilmember Alex Hamilton, who also serves on the Pool Committee, recommended the 7-month option in case the committee needs funds for additional fundraising efforts.
On a motion by Alex Hamilton, seconded by Laura Petersen, the council voted to renew the CD for seven months at 3.9%. The minutes record the reasoning as maintaining short-term access to funds rather than locking in a longer two-year term.
