Board approves three short-term CDs totaling $750,000
Summary
The Water Board voted 4-0 to open three certificates of deposit totaling $750,000 across two banks with rates between 3.60% and 3.89%.
The Board authorized three certificates of deposit: $250,000 (three-month) at People's State Bank at 3.85%; $250,000 (five-month) at First International Bank & Trust at 3.60%; and $250,000 (six-month) at People's State Bank at 3.89%. Jason Zimmerman moved the action and Roger Kluck seconded; the motion passed unanimously.
Board members recorded the account terms and interest rates and approved the openings as a routine financial action during the Feb. 9 meeting. No dissent or alternate investments were recorded in the minutes.
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