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Council renews three certificates of deposit and adopts related resolutions

City Council of the City of Lava Hot Springs · February 13, 2025
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Summary

Council approved renewal motions for three certificates of deposit at Idaho Central Credit Union and Citizens Community Bank (resolutions 2025-001 through 2025-003), specifying terms and rates as recorded in the motions.

Council considered three maturing certificates of deposit and approved motions to renew them under specified terms. Councilperson John Head moved to renew an ICCU CD (ending 7046) for 12 months at a 4.35% rate, Councilperson Head moved to renew the ICCU CD (ending 8589) for 12 months at the promotional APY noted, and a separate motion (resolution 2025-002) renewed a Citizen Community Bank CD (ending 4622) for six months at 4.00%. Each motion carried on recorded roll-call votes that were unanimous.

The council recorded the resolutions (2025-001, 2025-002, 2025-003) alongside the motions. The renewals specify institution names, partial account endings as recorded in the meeting, and the term-length decisions the council approved for municipal funds held in CDs.

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