frankfort-park-district.1

Park Board Secures 4.10% Interest Rate for District Certificates of Deposit

January 19, 2026/
Spread the love

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.

Leave a Comment





Latest News Stories

Meeting-Briefs

Meeting Briefs: Will County Land Use & Development Committee for July 3, 2025

Green Garden Township Rezoning for Future Subdivision ApprovedThe committee recommended approval of a map amendment for an 81-acre property on South 88th Avenue in Green Garden Township. The applicant, represented...
Meeting-Briefs

Will County Public Health & Safety Committee July 3 Meeting Briefs

Grain Dust Complaint Prompts Investigation: Will County resident Tracy Henning of unincorporated Peotone addressed the committee about health problems she attributes to grain dust from a neighboring facility. Henning, who...
Will-County-Legislative-Committee-Meeting-July-1-2025

Will County Seeks Asian Carp Provision in Federal Legislative Agenda

Will County Board member Julie Berkowicz is pushing to add specific language addressing Asian carp invasion to the county's federal legislative agenda, citing the ongoing threat to local waterways as...
Will-County-Legislative-Committee-Meeting-July-1-2025

State Legislative Session Update: Transit, Energy Bills Stall Despite Democratic Control

Illinois lawmakers failed to advance major transit funding and comprehensive energy legislation during the recently concluded spring session, leaving key issues unresolved despite Democratic supermajorities in both chambers, according to...
Will-County-Capital-Improvements-IT-Committee-Meeting-July-1-2025

Will County’s Major Capital Projects Hit Key Milestones, VAC Buildout on “Aggressive Schedule”

Will County is making significant headway on several major capital improvement projects, with the new Veterans Assistance Commission (VAC) & Support Center in Joliet on an “aggressive schedule” for a...
Will-County-Public-Works-Transportation-Committee-Meeting-July-1-2025

County Board Approves 2026-2031 Transportation Plan Despite Project Opposition

Will County board members approved a contested five-year transportation improvement plan Tuesday after heated debate over a controversial Homer Glen road project that has drawn sustained community opposition. The Will...
Will-County-Planning-and-Zoning-Commission-Meeting-July-1-2025

Contentious I-3 Rezoning for DuPage Township Storage Yard Narrowly Advances

A proposal to rezone a 20-acre parcel in DuPage Township from agricultural to the county's most intensive industrial classification narrowly earned a recommendation for approval from the Will County Planning...
Meeting-Briefs

Will County Legislative Committee July 1 Meeting Briefs

Federal Budget Impact: Will County could face significant funding challenges if federal budget reconciliation measures reduce Medicaid and SNAP benefits. The county health department and social services rely heavily on...
Will-County-Finance-Committee-Meeting-July-1-2025

County Moves Forward with $200.8 Million Bond Refinancing Plan

Will County Finance Committee members on July 1 approved moving forward with a comprehensive bond refinancing ordinance that could save taxpayers more than $716,000 over the life of the bonds...
Will-County-Public-Works-Transportation-Committee-Meeting-July-1-2025

Access Will County Dial-a-Ride Program Sees Record Growth, Eyes Expansion

Will County's dial-a-ride transportation service for seniors and disabled residents reached record ridership levels while officials plan major expansion to cover all county townships. The Access Will County program served...
Will-County-Capital-Improvements-IT-Committee-Meeting-July-1-2025

Will County to Launch New Public Meeting Agenda System in August Amidst Data Conversion Concerns

Will County is set to launch its new public meeting agenda and records software, Granicus “OneMeeting,” in August, but the transition will see over a decade of historical records converted...
Will-County-Planning-and-Zoning-Commission-Meeting-July-1-2025

Green Garden Township Poised for First Major Subdivision in Years After Rezoning

The Will County Planning and Zoning Commission has recommended a rezoning that could pave the way for the first major residential subdivision in Green Garden Township in nearly two decades....
Will-County-Finance-Committee-Meeting-July-1-2025

County RNG Facility Shows Strong Performance Despite Solar Challenges

Will County's Renewable Natural Gas facility is exceeding production targets while officials explore options to reduce substantial electricity costs that currently impact profitability. Project manager Greg Komperda told Finance Committee...
Meeting-Briefs

PZC Briefs: Solar Farm in Crete, Post-Fire Permit for Troy Business, and More

The Will County Planning and Zoning Commission handled several other cases during its July 1 meeting, including a new solar farm, a temporary permit for a fire-damaged business, and routine...
Meeting-Briefs

In Brief: Capital & IT News

Here are other highlights from the Will County Capital Improvements & IT Committee meeting on Tuesday. Successful Fire Drill at County BuildingThe Will County Office Building held its first full...