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Commissioners allow Collier’s Financial to buy treasurer bonds to cover Riverview TIF debt
Summary
The board approved a proposal by Tobin Morris of Collier’s Financial to purchase treasurer bonds; interest earned would be used to pay off the Riverview TIF debt. The plan has been presented to and approved by the Department of Revenue.
Tobin Morris, representing Collier’s Financial, presented a plan to invest funds by purchasing Treasurer bonds so interest generated can be applied to Riverview TIF debt. The transcript notes the proposal had been presented to and approved by the South Dakota Department of Revenue.
Commissioner Chris Sass moved, and Commissioner Francis Hass seconded, to allow Collier’s Financial to purchase the Treasurer bonds for investment; the motion passed with all voting aye. The minutes do not record the dollar amount of the bonds purchased or the precise investment timeline.
