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Ozawkie council approves $300,000 six‑month CD at 4.21%
Summary
The council voted to invest $300,000 of city funds in a six‑month certificate of deposit at 4.21% with Denison State Bank; the minutes list total city balances at about $550,000. The motion passed unanimously.
Mayor Loren Lutes reported the city holds approximately $550,000 across two accounts and that Denison State Bank offered a 6‑month certificate of deposit at 4.21% interest. The council approved investing $300,000 in that CD (motion by Kevin Klenklen, seconded by Chris Feuerborn); the motion passed unanimously.
The minutes record the interest rate and term but do not list maturity date or how the investment will be reflected in the budget; finance staff should record the investment and report back on maturity and accounting treatment.
