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Council approves fund transfers: move to NPAIT and purchase of SLGS bonds
Summary
On Nov. 10 the Bennet City Council approved moving funds described in the minutes as '1.1ML' from Union Bank & Trust to NPAIT and transferring $248,387.50 into SLGS bonds per a schedule provided by a councilmember.
Councilmember Jesse Schmidt presented proposals to move municipal funds. The council approved moving '1.1ML' from Union Bank & Trust to NPAIT (motion recorded; roll call Yes: Schmidt, Simmons, Zieg, Buck). The council also approved transferring $248,387.50 into SLGS bonds per a schedule provided by Schmidt; the motion to transfer the SLGS amount passed with a roll-call vote (Zieg moved; Simmons seconded; roll call Yes: Buck, Zieg, Simmons, Schmidt).
The minutes record the dollar amount for the SLGS transfer precisely but record the first transfer as '1.1ML' as written; the minutes do not expand or clarify that notation. The council recorded motions and roll-call votes for both transfers.
