Park Board Secures 4.10% Interest Rate for District Certificates of Deposit
Frankfort Park District Meeting | December 9, 2025
Article Summary: The Frankfort Park District Board voted to renew expiring Certificates of Deposit at a negotiated rate of 4.10% for a 13-month term. The decision secures favorable interest earnings for the district’s funds through early 2027.
Financial Key Points:
-
Rate Approval: The board approved a 4.10% interest rate for two 13-month Certificates of Deposit (CDs).
-
Maturation Schedule: The current CDs, holding a 4.18% rate, are set to mature on December 27, 2025.
-
Negotiated Terms: The bank agreed to honor a 9-month rate for the longer 13-month term.
The Frankfort Park District Board of Commissioners on Tuesday, December 9, 2025, voted to approve the renewal terms for the district’s maturing Certificates of Deposit (CDs).
District staff reported that the current CDs, which carry an interest rate of 4.18%, will mature on December 27, 2025. Reinvesting or allocating these funds required formal board action.
According to the finance report, the current market rate for a 9-month CD is 4.10%. However, the bank agreed to honor that rate for a longer term of two 13-month CDs. Staff recommended the board accept this offer.
During the discussion, Commissioner Elmer Gentry asked if staff would investigate the difference between a Money Market Rate and the proposed CD rate. Following the discussion, Commissioner Mark Ponton made a motion to approve the CD renewal at the 4.10% rate.
The motion passed with a unanimous 5-0 vote.
Clear
Latest News Stories
Park District Reviews Emergency Response After Frankfort Square Shelter-in-Place
Will County Committee Shapes 2026 Legislative Agendas on Housing, Energy, and Health
Frankfort Library Board Moves to Explore Community Solar Power
Congressional Perks: Committees, caucuses cost $50 million since 2019
JJC Authorizes Land Buy for Grundy County Expansion, Secures Site in Morris
FAA funding problems hit airports in California, elsewhere
Judge bars ICE from acting against ‘protestors,’ ‘rapid response’ activists
Report: IL public schools show low academic proficiency, higher taxpayer funding
Watchdog: Special interest group paid legislators’ $25,000 resort bill
Commission Grants Green Garden Solar Farm Project Variance Extension
Union Pacific to ask appeals court for biometrics lawsuit exemption
Illinois quick hits: Notices of affected flights; injunction issued over ICE force
