morgan_city_housing_authority_board_meeting_minute.pdf
Housing Authority invests $80K CD at Patterson State Bank
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Description
The Morgan City Housing Authority approved placing $80,000.00 into a 6-month certificate of deposit with Patterson State Bank using excess Hurricane Ida insurance proceeds to establish an investment relationship with a second local bank.
Contract Details
Contract Amount
$80,000.00
Vendor
PATTERSON STATE BANK
Agency
Housing Authority of the city of Morgan city, LA
Contract Type
FINANCIAL_SERVICES
Document Date
October 23, 2025
Contract Term
6-month certificate of deposit
Renewal Info
Initial CD term is 6 months; document does not specify whether the CD will auto-renew or be redeemed at maturity.
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APPROVEDIssuing Agency
Housing Authority of the city of Morgan city
Local Housing Authority
Morgan city, LA
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