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Council unanimously reinvests business CD of $2.4 million at 5.0%
Summary
The council approved Resolution 2024-006 to reinvest a business CD at ICCU for no less than $2,400,478.76 at a 5.0% rate; vote was unanimous during the August 19 special meeting.
At the special meeting on August 19, Lava Hot Springs council members approved Resolution 2024-006 to reinvest a business certificate of deposit maturing on August 21, 2024. Councilperson Leah Navarro moved the reinvestment "for 5.0% in no less than $2,400,478.76," with Councilperson John Head seconding; Mayor Vicky Lyon recorded the vote as unanimous.
The transcript records the motion language and the roll-call result: "Councilperson Navarro made a motion to approve Resolution 2024-006 to reinvest business CD at ICCU for 5.0% in no less than $2,400,478.76." The council did not attach qualifiers or request further analysis in the meeting record; there was no recorded public comment on the matter.
