City of Anthony Agenda Packet 2026-05-19
City Reinvests $1.2M in CDARs with Bank of the Plains
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Description
The City of Anthony approved reinvesting three maturing certificates of deposit with Bank of the Plains into 24‑month CDAR investments totaling $1.2 million at 3.88% APY. The funds are allocated to the Wayne Dennis, Electric Reserve, and Electric Equipment Replacement accounts.
Contract Details
Contract Amount
$100,000 CDAR for 24 months @ 3.88% interest; $100,000 CDAR for 24 months @ 3.88% interest; $1,000,000 CDAR for 24 months @ 3.88% interest
Vendor
BANK OF THE PLAINS
Agency
City of Anthony, KS
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
24 months for each CDAR investment
Renewal Info
Investments are fixed-term CDAR placements for 24 months; renewal or rollover decisions will be required at maturity based on then-current rates and cash needs.
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