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Board approves reinvestment of village CDs including $306,806 TIF CD
Summary
Sheffield trustees approved reinvestment of General and Cemetery CDs (about $153,403 and $20,453 respectively) and reinvestment of a TIF CD including interest of approximately $306,806 into nine-month CD specials at People National Bank-Sheffield.
The board voted to reinvest maturing certificates of deposit. The General Fund CD and Cemetery Fund CD — reported as approximately $153,403 and $20,453, respectively — will be rolled into a nine-month special at People National Bank-Sheffield. The motion passed unanimously.
Trustees also approved reinvesting the TIF Fund CD, including interest, for approximately $306,806 into the same nine-month special; Trustee Pratt abstained on the TIF vote, producing a roll-call result recorded in the minutes as AYES: Adams, Corwin, DeVoss, Price, Yepsen, Lanham; ABSTAIN: Pratt. The board did not provide additional discussion in the minutes about rates or alternative banking options.
