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Evart council approves rollover of $250,000 CD to Independent Bank
Summary
Council approved rolling over an FDIC-insured principal of $250,000 into a 13-month certificate of deposit at Independent Bank and directed accrued interest to be deposited into water and sewer accounts with MI Class.
The City of Evart Council voted on Feb. 2, 2026 to roll over an FDIC-insured principal of $250,000 into a 13-month certificate of deposit at Independent Bank. Councilmember Mike Fulton moved the action and Ralph Carlson seconded; the motion passed with all in favor.
Council directed that the accrued interest from the CD be deposited into the citywater and sewer accounts held with MI Class. The move was presented as a financial-management decision to secure a short-term return while maintaining FDIC coverage for principal.
