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USD 417 awards 12-month Certificate of Deposit at 4.0% for $111,000
Summary
The USD 417 Board of Education accepted a proposal from Citizens State Bank for a 12-month Certificate A at 4.0% for $111,000 after reviewing RFPs from three banks; the decision was approved unanimously among members present.
The USD 417 Board of Education awarded a 12-month Certificate A at 4.0% to Citizens State Bank for $111,000 during its Feb. 9 meeting.
"I make a motion to approve the RFP for the Certificate of Deposit at 4.0% for 12 months from Citizens State Bank for Certificate A in the value of $111,000 as presented," board member TinaRae Scott said; James Blue seconded the motion and the board recorded six yeas and one absence.
RFPs were received from Farmers and Drovers Bank, Citizens State Bank, and Emprise Bank, and the board selected the Citizens State Bank offer as presented. The minutes record the chosen rate and principal amount but do not include contract documents in the public minutes; district finance staff will complete the formal paperwork as part of regular investment management procedures.
The vote authorizes staff to proceed with the deposit; the board did not record any opposing views during the public session.
