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Council waives readings, adopts emergency ordinance to roll $250,000 into two-year CD
Summary
Ordinance No. 2024-030 was waived for a second reading and adopted as an emergency to allow the Finance Director to transfer $250,000 into a two-year certificate of deposit; council voted 6-0.
The Village of Waynesville council unanimously approved Ordinance No. 2024-030 on Sept. 3 to authorize the Finance Director to transfer $250,000 into a two-year certificate of deposit. Members waived the two-reading rule and adopted the ordinance as an emergency in motions that passed on 6-0 roll calls.
Finance Director and Clerk Jamie Morley told the council that the Warren County Budget Commission had issued the Village's 2025 fiscal-year certificate and that current CD rates were around 3.8% to 3.9%, which informed the recommendation to rollover funds. Mrs. Morley said interest received on a matured CD will be reported at the next meeting.
Record from minutes: Motion to waive two-reading — Mrs. Miller; Second — Mr. Blankenship; Roll Call — 6 yeas. Motion to adopt as emergency — Mrs. Miller; Second — Mr. Blankenship; Roll Call — 6 yeas.
