City of Sesser Council Meeting Minutes January 2025
City Invests in Four CDs With Du Quoin State Bank
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Description
The City of Sesser approved purchasing four 9‑month certificates of deposit from Du Quoin State Bank at a 4.45% interest rate, investing balances from several sewer, trust, and water infrastructure accounts totaling over $765,000. The action establishes short‑term investment arrangements with the bank.
Contract Details
Contract Amount
$181,131.30 (Sewer Debt Service Reserve CD); $325,000.00 (Sewer Bond Reserve CD); $133,893.65 (Maple Hill Trust CD); $125,000.00 (Water Infrastructure Fund CD)
Vendor
DU QUOIN STATE BANK
Agency
City of Sesser, IL
Contract Type
FINANCIAL_SERVICES
Document Date
January 16, 2025
Contract Term
Each: 9-month CD at 4.45% interest
Renewal Info
Each certificate of deposit has a 9‑month term at 4.45% interest; renewal or rollover terms are not specified and would be determined at maturity.
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