Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Electric City council approves purchase of $504,831.11 Federal Home Bank bond
Summary
At its Oct. 23 special meeting, the Electric City City Council approved buying Federal Home Bank Bond #3130B7VP6 for $504,831.11, maturing Sept. 13, 2030; the motion was moved by Council Member Blake Martin and seconded by Matt Gilbert and carried on unanimous consent.
The Electric City City Council voted Oct. 23 to purchase Federal Home Bank Bond #3130B7VP6 for $504,831.11, with a stated maturity date of Sept. 13, 2030. The motion to buy the bond was moved by Council Member Blake Martin and seconded by Council Member Matt Gilbert; the measure passed on unanimous consent.
Council minutes show the purchase was presented under new business as the reinvestment of matured city bond funds. No alternate bids, dissenting views, or public comments were recorded during the meeting. City Clerk/Treasurer Peggy Nevsimal was present for the roll call and will be the administrative contact for implementing the reinvestment transaction.
The item concluded with no additional conditions recorded and no follow-up timeline specified in the minutes. The council proceeded to other agenda items after adopting the motion.
