Councilman Imker urges 2-year CDs for higher returns
Peachtree City might start putting some of its cash savings in two-year certificates of deposit in the hopes of getting more in return for interest earnings.
City Councilman Eric Imker has urged such a policy change, suggesting it could provide the city with an additional $150,000 a year.
However, it’s not as simple as using two-year CDs. A state law restricts governing bodies such as city councils from “binding” future councils, so any such policy has to abide by that principle, according to City Attorney Ted Meeker. Read More»