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Committee renews Water Replacement CD at 4% and shifts Cemetery Permanent Fund into CD
Summary
At its Aug. 28 meeting the Fountain City Finance Committee approved renewing the Water Replacement certificate of deposit for six months at 4% and separately voted to move the 800 Cemetery Permanent Fund into a CD. Both motions were recorded as carried.
The Fountain City Finance Committee on Aug. 28 approved two investment-related motions. Stephen Qualy moved, and Chris Williamson seconded, renewal of the Water Replacement certificate of deposit for six months at an interest rate of 4%; the minutes record the motion as carried. Separately, a motion by Barb Schmidtknecht, seconded by Chris Williamson, to shift the 800 Cemetery Permanent Fund into a CD was also carried.
The minutes do not specify the amounts to be placed in either CD, the financial institutions to be used, or the dates the CDs will mature; those details were not recorded in the meeting minutes and are listed as not specified. The committee did not record roll-call vote tallies for either motion.
