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Conservation Board approves $250,000 Klauenberg Trust placement in short-term account
Summary
The Marshall County Conservation Board voted Feb. 9 to place $250,000 from the Klauenberg Trust in a 9-month account at Central Bank, pending any higher rates offered by Pinnacle for larger deposits; the motion passed unanimously. The decision followed a presentation of options by staff and the County Treasurer.
The Marshall County Conservation Board voted Feb. 9 to place $250,000 from the Klauenberg Trust into a nine-month account with Central Bank unless Pinnacle offered higher rates for larger amounts.
Staff member Emily Herring presented the investment options provided by County Treasurer Deann Tomlinson and recommended short-term placement. Pam Paone moved the placement; Steve Armstrong seconded. Voting in favor were Paone, Tina Nelson (participating by phone), President Rich Naughton and Armstrong; the motion carried.
The board recorded no further conditions in the minutes; the entry notes the decision was based on a comparison of short-term rates supplied by the County Treasurer. No dollar yield, interest rate, or date to reassess the investment was recorded in the minutes.
