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Trustees of Public Funds invoice due; board considers using trustee-held funds instead of bank bridge loan
Summary
The Trustees of Public Funds invoiced the Treasurer for interest due Dec. 15, 2024. Trustees offered that the Town could use funds they hold instead of pursuing a bank bridge loan next summer and indicated they would invest unused funds in a six‑month CD.
The Isle La Motte Selectboard discussed a bill from the Trustees of Public Funds: an invoice for interest is due by Dec. 15, 2024 and will be included on the next warrant for approval and ratification.
Trustees told the Town they hold a substantial sum that needs investment and asked whether the Selectboard would prefer to use those funds in place of a bank bridge loan next summer. The Trustees plan to invest unused funds in a short‑term, six‑month certificate of deposit (CD) if the Town does not request use of the funds. The board said it would consider the offer as the budget is prepared and determine how forthcoming loan payment obligations will be divided over coming years.
