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Council defers decision on $50,007.80 Verabank CD maturing Dec. 11

City Council of the City of Mount Enterprise, Texas · August 13, 2024
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Summary

Mount Enterprise council deferred action on a $50,007.80 certificate of deposit at Verabank that matures Dec. 11, 2024, voting 5-0 to revisit options at a future meeting.

Council members considered whether to extend a Verabank certificate of deposit of $50,007.80 that is scheduled to mature Dec. 11, 2024. Councilmember Freddy Swann moved and Councilmember Judy Cox seconded a motion to defer the decision and review additional options at the next meeting; the motion passed 5-0.

The minutes record the principal amount and maturity date but do not record alternative financial options or recommended rates. The council's action was procedural: defer consideration until staff or council can present more options for investment or rollover decisions.

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