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First Bank & Trust presents investment options; CD rate at 2.92%
Summary
Val Mears of First Bank & Trust presented investment options to the Town Board and noted the FC001 CD rate rose from 0.5% to 2.92%; the board was asked to consider placing municipal funds.
Val Mears, representing First Bank & Trust, presented several investment options to the board as a way to generate income for South Shore. Mears told the board the FC001 CD rate increased from 0.5% to 2.92%, and suggested the town consider options for earning greater returns on idle funds.
Board members did not vote immediately on placement of town funds; the presentation was recorded for future consideration. Separately, the board approved pay request #14 to Helm’s Engineering for $845.00 during the same meeting.
