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The board voted 4-1 to recommend Melissa Wood for appointment to the Downtown Development Authority, while also nominating Angie Sprayberry; the minutes do not record a vote on Sprayberry’s nomination. Members favored pursuing a 3.62% variable interest rate rather than immediately moving funds into a seven-month CD.
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The recommendation will go to the City Council, with approval expected in early May. The board also chose to prioritize access to its funds while staff gathers more information about a CD offering at 4.4% APR. A February interest underpayment remains subject to clarification; the expected back deposit is listed as either $1,107.14 or $1,149.75.
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