City of Lake Park Council Meeting Minutes March 2026
City Opens 12-Month CD With State Bank of Lake Park
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Description
The City of Lake Park moved a $117,899.12 certificate of deposit from Old International (Bremer) Bank to State Bank of Lake Park, establishing a new 12‑month CD at 3.5% interest. Officials also plan to transfer another CD to the same bank upon maturity.
Contract Details
Contract Amount
$117,899.12
Vendor
STATE BANK OF LAKE PARK
Agency
City of Lake Park, MN
Contract Type
FINANCIAL_SERVICES
Document Date
March 9, 2026
Contract Term
12 months at 3.5%
Renewal Date
2027-03-09
Renewal Info
CD term is 12 months; future action anticipated to move another CD to State Bank of Lake Park when it matures. Renewal or rollover terms are not specified.
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