City of Hull Regular City Council Meeting Minutes 2026-05-11
City Moves Deposits into New CDs at American State Bank
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Description
Hull City Council approved opening multiple large certificates of deposit with American State Bank, including six $500,000 CDs and a 6‑month CD for Liberty Heights Third Addition bond funds. The action reallocates existing city deposits for investment purposes.
Contract Details
Contract Amount
six (6) $500,000 CDs; Liberty Heights Third Addition bond CD (amount not specified)
Vendor
AMERICAN STATE BANK
Agency
City of Hull, IA
Contract Type
FINANCIAL_SERVICES
Document Date
May 11, 2026
Contract Term
6-month CD for Liberty Heights Third Addition bond monies; term for six $500,000 CDs not specified
Renewal Info
CDs will mature at the end of their terms; council may choose to renew or reinvest upon maturity, particularly the 6‑month Liberty Heights Third Addition bond CD.
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