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Commissioners approve local four‑year CD for roughly $168,587 from bond maturity
Summary
The board unanimously approved investing approximately $168,587 from a Feb. 26 bond maturity into a four‑year certificate of deposit at First Bank of Blue Earth, following an Auditor/Treasurer report.
Faribault County commissioners on Feb. 17 voted unanimously to place about $168,587, coming from a Feb. 26 bond maturity and available cash, into a local four‑year certificate of deposit at First Bank of Blue Earth.
Chuck Schrader met with the board for Auditor/Treasurer business; the board approved ‘investment option ii’ on an Anderson/Young motion. The minutes record that Commissioners Paschke, Young, Loveall, Anderson and Groskreutz all voted yes. The motion directs the county to invest the specified funds locally in a four‑year CD.
The decision was recorded as financial stewardship of maturing bond proceeds and available cash; no alternative investments or yields are listed in the minutes.
