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Kincaid trustees unanimously approve OMW CD rollover at special meeting
Summary
At a Sept. 30 special meeting, the Village of Kincaid board voted unanimously to roll over an OMW certificate of deposit to avoid losing accrued interest. The vote took place so the CD could be renewed before expiration.
The Village of Kincaid Board of Trustees voted unanimously Sept. 30 to roll over an OMW certificate of deposit to preserve interest before the CD expired. Mayor Robert Morris asked for a motion to renew the account, and Trustee Nelson moved to roll the CD over; Trustee Lawrence seconded. The board recorded "All Ayes."
Mayor Robert Morris said the renewal deadline required immediate action. "we had to have the OMW CD approved to be renewed before we lost interest on it," he said. The board took no additional financial action during the meeting beyond the rollover vote. The decision was procedural and made to protect municipal funds ahead of the next regular meeting.
