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Board accepts financials, approves reinvestment of two $500,000 CDs at 4.65%
Summary
The Dakota Dunes CID accepted September 2024 financial statements, approved October vouchers payable of $366,503.91, and voted to reinvest two maturing $500,000 CDs into Security National Bank CDs for six months at 4.65%. Motions passed 5-0.
The board voted to accept the September 2024 financial statements and approved October 2024 vouchers payable totaling $366,503.91. The motion to accept the financial statements was made by Ms. Finzen and seconded by Mr. Wetz; the vote was 5-0.
Separately, following discussion the board voted to reinvest two maturing $500,000 certificates of deposit from People’s Bank into two separate $500,000 CDs with Security National Bank for six months at an interest rate of 4.65%. That motion was made by Mr. Shorma and seconded by Mr. Wetz and passed 5-0.
