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Council authorizes opening a 3.85% CD using Utility CIP funds
Summary
Council authorized Town Manager Majher and Town Treasurer Rickards to open a Certificate of Deposit at FNB Bank at a rate of 3.85% using Utility CIP funds; the motion passed unanimously.
The council approved a motion authorizing the Town Manager and Town Treasurer to open a Certificate of Deposit at FNB Bank, which is offering a rate of 3.85%, funded from Utility CIP accounts. Vice‑Mayor Linden A. Fravel summarized the Finance Committee discussion about the new accounting software and staffing needs before council approved the banking action.
Councilwoman Mariah Smith moved to authorize the Town Manager and Town Treasurer to open the CD; the motion carried with all members voting aye.
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