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Stronghurst board moves police savings into Bank of Stronghurst CD
Summary
Trustees voted unanimously Sept. 2 to move the village's police savings account into a certificate of deposit at the Bank of Stronghurst; motion was moved by Trustee Michael Bohnenkamp and seconded by Trustee Janice Smith.
At the Sept. 2 meeting, Mayor Brendan Schaley asked the board to authorize moving the police savings account into a certificate of deposit at the Bank of Stronghurst. Trustee Michael Bohnenkamp moved the action and Trustee Janice Smith seconded; the motion passed unanimously.
The minutes record the board's approval but do not specify the CD term, interest rate or expected liquidity. The clerk did not list an amount to be transferred in the minutes, and the record states only that the motion passed.
Because the motion lacked financial details in the minutes, follow-up with the clerk or treasurer would be required to determine the CD term length and dollar amount to be moved.
