City of Centralia General Government & Public Safety Committee Agenda Packet 2026-05-11
Library to purchase laddered CDs from Bank of Missouri
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Description
The Centralia Public Library Board approved purchasing three $50,000 laddered certificates of deposit from Bank of Missouri to invest reserve funds while maintaining liquidity. These CDs will mature at different times to align with potential cash needs.
Contract Details
Contract Amount
Three $50,000 CDs (total $150,000)
Vendor
BANK OF MISSOURI
Agency
City of Centralia, MO
Contract Type
FINANCIAL_SERVICES
Document Date
May 11, 2026
Contract Term
Multiple maturities throughout the year (laddered structure)
Renewal Info
The board also authorized the director to renew an existing CD maturing in May without further board approval, effectively delegating renewal decisions for that instrument to staff.
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