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Board authorizes reinvestment of two CDs totaling $2.25 million at 4.5% for six months
Summary
Trustees authorized reinvesting two maturing Certificates of Deposit at Arvest Bank for another six months at a 4.5% interest rate: $1,000,000 from Building Bond Fund 34 and $1,250,000 from General Fund 11.
During the Nov. 4 meeting, Board member Amy LaSpisa moved to "authorize re-investing current Certificates of Deposit at Arvest bank upon maturity date for another 6mos term at a 4.5% interest rate." The motion lists CD#XX0374 for $1,000,000 (Building Bond Fund 34) and CD#XX0377 for $1,250,000 (General Fund 11). David Cleveland seconded the motion and the board recorded a unanimous approval among the three members present.
The vote authorizes district finance staff to renew the two CDs upon maturity for the stated six-month term and interest rate; no additional contingencies or dissent were recorded in the supplied transcript segments. The motion and fund allocations were entered into the official minutes for the Nov. 4, 2024 meeting.
