city-of-evart-work-session-minutes-october-20-2025_6ce.pdf
City Discusses Rollover of CD at Local Bank
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Description
The City of Evart discussed reinvesting a matured certificate of deposit at Lake-Osceola State Bank, rolling over the FDIC-insured $250,000 principal into a new CD. Accrued interest would be deposited into MI Class accounts across several city funds.
Contract Details
Contract Amount
$250,000 FDIC insured amount (principal rollover only)
Vendor
LAKE-OSCEOLA STATE BANK
Agency
Town of Evart, MI
Contract Type
FINANCIAL_SERVICES
Document Date
October 20, 2025
Renewal Info
Existing certificate of deposit at Lake-Osceola State Bank to be rolled over with principal maintained at FDIC-insured $250,000, while interest is transferred to MI Class accounts.
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