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.
Partly Sunny
Latest News Stories
Will Land Use Committee Evaluates Multi-Million Dollar Buyout for Flooded Harris Drive Homes
Behavioral Health Division Drops Wait Times, Reports Zero Opioid Deaths in February
Frankfort Advances Downtown Urban Design Study, Solicits Resident Input
Harris Drive Residents Plead for County Intervention Amid Failing Septic Systems and Flooding
Will County Sheriff’s Office Investigates Fatal Hit-and-Run in Homer Glen
Federal Funding Freezes Threaten Will County Public Health Programs Amid Ongoing Lawsuits
Frankfort Mayor, Trustees Blast Proposed State Legislation Threatening Local Zoning Control
Legal experts anticipate SCOTUS will overturn drug user gun ban
Parents’ rights advocates hail SCOTUS ruling against secret gender transitions
Critics warn Illinois bill could lead to government overreach in newborn care
Veteran suicide rate remains high despite spending millions
BlackRock summit to focus on workforce needed for U.S. infrastructure boom
