City of Centralia General Government & Public Safety Committee Agenda Packet 2026-05-11
Library invests reserves in Bank of Missouri CDs
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Description
The Centralia Public Library Board approved placing $150,000 of reserve funds into laddered certificates of deposit with Bank of Missouri and authorized renewal of an existing CD. The action aims to improve investment returns while maintaining liquidity throughout the year.
Contract Details
Contract Amount
three $50,000 CDs (total $150,000) plus renewal of existing CD
Vendor
BANK OF MISSOURI
Agency
City of Centralia, MO
Contract Type
FINANCIAL_SERVICES
Document Date
May 11, 2026
Contract Term
Laddered CDs maturing at multiple points throughout the year; one existing CD maturing in May 2026 to be renewed
Renewal Info
Board authorized automatic renewal of the CD maturing in May 2026 by the director without further board approval; three new $50,000 CDs will be structured with staggered maturities for ongoing renewal or redemption options.
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