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Electric City council reinvests bond funds, buys Bond #91282CLBS for $510,719.66
Summary
Council approved purchasing Bond #91282CLBS for $510,719.66 at a 4.0% yield. The motion was recorded as M/S (Redfield/Boyce) and carried unanimously.
The City of Electric City authorized the reinvestment of bond funds on Dec. 10, 2024 by purchasing Bond #91282CLBS for $510,719.66 at a stated 4.0% yield. Councilmember Don Redfield moved the purchase and Councilmember Robbin Boyce seconded; the minutes record the motion as carried unanimously.
The acquisition was approved as part of consent/financial business on the consent agenda; the minutes list the bond identifier and price but do not include additional investment rationale or maturity details. The clerk's record lists the motion as "M/S (Redfield/Boyce) CU."
