Merchant's Bank CD Earns Dakota $3,509 in Interest
City of DakotaCity · MN- Disclosed value
- $200,000 principal; $3,509.34 interest earned; interest rate 3.48862%
- From minutes
- Document date
- Oct 12, 2026
- Term
- Six months; matured October 1, 2026
The 30-second brief
The City of Dakota reported that its $200,000 certificate of deposit through Merchant's Bank matured October 1, 2026. The investment earned $3,509.34 in interest at a 3.48862% rate and was placed through the CDARS network.
Merchant's Bank holds this financial services contract with City of Dakota. Its other public contracts on record include work for City of Red Wing and City of Stockton.
Term as filed: Six months; matured October 1, 2026.
See who signed off on this contract.
See who signed offFree account · 30-second setup · No credit card
Contract details
- Contract type
- Financial Services
- Amount
- $200,000 principal; $3,509.34 interest earned; interest rate 3.48862%
- Document date
- October 12, 2026
- Term
- Six months; matured October 1, 2026
- Vendor
- Merchant's Bank
- Agency
- City of Dakota
- Source document
- City Of Dakota Minutes Regular Meeting 2026-10-12 (Minutes)
Merchant's Bank's other public contracts
More City of Dakota contracts
Questions about this contract
Who was awarded the financial services contract by City of Dakota?
Merchant's Bank was awarded this financial services contract by City of Dakota, as recorded on October 12, 2026. The contract value is $200,000 principal; $3,509.34 interest earned; interest rate 3.48862%.
How much is the Merchant's Bank contract with City of Dakota worth?
The Merchant's Bank contract with City of Dakota is valued at $200,000 principal; $3,509.34 interest earned; interest rate 3.48862%, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in City Of Dakota Minutes Regular Meeting 2026-10-12 (Minutes), dated October 12, 2026 from City of Dakota. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
Show 2 more questions
What other contracts does Merchant's Bank hold?
Merchant's Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Dakota currently buying?
Explore City of Dakota's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.