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Humboldt board votes to cash out CDs and move funds into five‑month higher‑rate accounts
Summary
At its Jan. 27 meeting the Humboldt City Board unanimously approved a motion to cash out the city’s existing certificates of deposit and reinvest the funds in five‑month, higher‑rate CDs. The motion was made by President Ritchy Griepp and seconded by Julian Gambs.
At its regular meeting on Jan. 27, 2025, the Humboldt City Board approved a motion to cash out the city’s current certificates of deposit and place the funds into five‑month higher‑rate CDs. President Ritchy Griepp moved the action, Julian Gambs seconded, and roll-call votes were unanimous.
Board members and the finance officer discussed current CD rates before the vote; the minutes record the motion in full: "A motion was made by Griepp and seconded by Gambs to cash out the current CD’s and put them into 5 month higher rate CD’s." The motion carried, and no dollar amount tied to the specific CDs was specified in the minutes. Finance Officer Kristie Ellis was noted in attendance to oversee year‑end and banking matters.
