Sesser City Council Meeting Minutes January 2025
City Investments Approved with Du Quoin State Bank
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Description
Four CDs totaling over $760,000 will be purchased from Du Quoin State Bank with city reserve and trust funds for 9 months at 4.45%.
Contract Details
Contract Amount
Sewer Debt Service Reserve: $181,131.30 (9-mo CD), Sewer Bond Reserve: $325,000.00 (9-mo CD), Maple Hill Trust: $133,893.65 (9-mo CD), Water Infrastructure: $125,000.00 (9-mo CD)
Vendor
DU QUOIN STATE BANK
Agency
City of Sesser, IL
Contract Type
FINANCIAL_SERVICES
Document Date
January 16, 2025
Contract Term
9 months for each CD
Renewal Info
CDs mature 9 months after purchase; reinvestment or liquidation determined upon maturity.
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