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Board approves 12-month certificate of deposit at 4.0% for $111,000
Summary
The USD 417 Board awarded a 12-month Certificate A to Citizens State Bank at 4.0% for $111,000 after reviewing RFPs from three banks; the motion carried 6–0 with one member absent.
The USD 417 Board of Education accepted an RFP from Citizens State Bank for a 12‑month Certificate of Deposit (Certificate A) at a rate of 4.0% and a principal value of $111,000. RFPs had been received from Farmers and Drovers Bank and Emprise Bank as well; the board voted to award the CD after a motion by TinaRae Scott and a second by James Blue.
Board members recorded the vote as Yea: 6, Nay: 0, Absent: 1 (Terry Powell). The decision was handled as a standard investment action in the board packet and will be implemented by district finance staff on the terms approved.
