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Council moves VeraBank CD into LOGIC and transfers proceeds to general fund
Summary
Council voted to combine agenda items to move a VeraBank CD maturing 12/11/2024 into LOGIC and transfer proceeds to the General Fund pending further council direction.
The council authorized combining agenda items and moving a VeraBank certificate of deposit that matures on 12/11/2024 into the LOGIC account and transferring the proceeds to the General Fund until further steps are chosen. Councilmember Hawey Graves moved the combined action and Councilmember Judy Cox seconded; the motion passed by a 5–0 vote.
The minutes do not record the CD principal amount or the expected duration of the interim transfer to the General Fund; the only detail recorded is the CD maturity date of 12/11/2024 and the council action to move the funds to LOGIC and then to the General Fund temporarily.
