Discussion and possible action on transferring money from the BVGCD checking account into CD

Staff Report & Agenda Item Details

Discussion and possible action on transferring money from the BVGCD checking account into CD accounts at banks within the District boundaries. A motion was made by Tom McDonald, second by Pete Brien to authorize Alan M. Day, General Manager to shop for Certificate of Deposit’s (CD’s) in or more institutions to the maximum available interest on a two-year CD. The motion carried unanimously. A second motion was made by David Stratta, second by Stephen A. Boykin to name the Certificate of Deposit the “Brazos Valley Groundwater Conservation District Contingency Fund”. The motion carried unanimously. A third motion was made by Bryan F. Russ Jr., second by Tom McDonald that before the deposit is made we have a letter from the institution stating that the account is insured. The motion carried unanimously. A fourth motion was made by Tom McDonald, second by Stephen A. Boykin authorizing Alan Day to take the Resolution and the Minutes with Board approval in reaching decisions with the institutions for certificate of deposits. The motion carried unanimously.

This motion is scored as RESTRAINS_GOVERNMENT (Impact Weight: 5.0/10). Under the Bastiat Liberty Watchdog Index, voting YES on measures that cap or reduce ad valorem tax burdens, expand taxpayer exemptions, retire debt early, enforce competitive bidding caps, or remove regulatory/zoning barriers to private property rights earns a positive Pro-Liberty score.