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Dakota renews two maturing CDs amid upcoming project needs
Summary
Treasurer Melody Sweet presented maturing certificates of deposit and the board approved renewing the CD ending in 667 to 30 months at 3.45% and the CD ending in 659 to 12 months at 3.5%. The board said one short-term and one long-term CD will be secured.
Treasurer Melody Sweet presented options from the bank for maturing certificates of deposit at the Nov. 3 meeting. On motions by Trustee Otis Holley, the board approved renewing the CD ending in 667 to a 30-month CD at a rate of 3.45% and renewing the CD ending in 659 to a 12-month CD at 3.5%; both motions passed unanimously.
Board members said the village wants one short-term and one longer-term CD to keep some liquidity available for near-term projects. The minutes note this action in the new-business discussion and record the selected rates and terms but do not list the principal amounts of each CD.
