Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
WCIDA agrees to reinvest maturing municipal CD with Savannah Bank at 3.5%
Summary
The board authorized reinvestment of a municipal certificate of deposit maturing March 31 from LNB into a 13-month term at Savannah Bank offering 3.5% interest, following a Finance Committee recommendation.
Fiscal Officer Ryan Gentile told the board that a municipal certificate of deposit held with LNB is maturing on March 31 and recommended reinvesting the funds with Savannah Bank for a 13-month term at a 3.5% interest rate. Gentile said the Finance Committee reviewed and recommended the investment.
Kim V. Leonard moved to approve the resolution authorizing the reinvestment and Kaye Stone-Gansz seconded; all present approved the motion.
The minutes record the board's authorization to reinvest the maturing CD; the resolution does not list the exact dollar amount of the CD in the record.
