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Council moves $850,000 in CDs to Meade State Bank at 24 months @ 3.54%
Summary
On Jan. 26 the council approved moving two Certificates of Deposit ($100,000 and $750,000) from Bank of the Plains to Meade State Bank for 24 months at 3.54% (or the prevailing Federal Statutory Rate for Public Funds at the time); motion by Brian Kroth, second by Lance DeLissa, carried unanimously.
City Clerk Christina Redger presented renewal quotes for two Certificates of Deposit maturing Feb. 3, 2026, showing Meade State Bank rates including 24 months at 3.54%. The council moved to transfer CD #5000010990 ($100,000) and CD #5000010941 ($750,000) from Bank of the Plains to Meade State Bank for a 24-month term at 3.54% (or the current Federal Statutory Rate for Public Funds), following a motion by Councilmember Brian Kroth and second by Councilmember Lance DeLissa; the motion passed with all in favor.
No other banking quotes were recorded in the minutes. The transfer consolidates these public funds at the quoted rate and will be executed according to city finance procedures.
