town-of-evart-agenda-2024-10-21_483.pdf
Council Considers Renewal of CD at Local Bank
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Description
Council considered renewal of an $250,000 FDIC-insured certificate of deposit at Lake-Osceola State Bank for another 11 months at a 3.80% dividend rate, pending approval.
Contract Details
Contract Amount
$250,000 (principal)
Vendor
LAKE-OSCEOLA STATE BANK
Agency
Town of Evart, MI
Contract Type
FINANCIAL_SERVICES
Document Date
October 21, 2024
Contract Term
11 months
Renewal Date
2025-10-19
Renewal Info
Rollover of principal upon maturity; interest split across fund accounts. Council may opt to invest funds elsewhere.
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