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Ladd board approves reinvestment of maturing CDs and adds $50,000 to water debt service
Summary
Trustees unanimously approved reinvesting maturing certificates of deposit for nine months at 3.79% APY across multiple funds and directed $50,000 into the water debt service CD.
The Ladd Village Board voted June 9 to reinvest a slate of maturing certificates of deposit for nine months at an annual percentage yield of 3.79% and to add $50,000 to the water debt service account.
Trustee Jan Martin introduced the motion: "Trustee Martin motioned to reinvest all CDs upon maturity for 9 months at 3.79% APY and add $50,000.00 to the water debt service CD." Trustee Molly Thrasher seconded, and trustees voted aye: Nicholson, Thrasher, Victor, Flanagan, Martin, Nelson. The motion covered reinvestments for the Water Debt Service, Electric Fund, TORT Fund, and the 125th/150th Anniversary Fund.
Separately, for Motor Fuel Tax (MFT) funds the board decided to keep approximately $100,000 in checking for the MFT/STU project and to reinvest a maturing MFT CD of $138,854.33 for nine months at 3.79% APY, with the reinvestment scheduled for June 27, 2026.
