Moves to close $120,000 CD for livestock market
The Jay Council voted Monday, Aug. 19, to approve to cash out a Certificate of Deposit (CD) to pay for work on the Livestock Market and to award the Community Development Block Grant (CDBG) waterline construction to the lowest bidder.
The United States Department of Agriculture (USDA) grant to renovate the Livestock Market facility requires that the town pay contractors for work and will reimburse the town after the work is completed and paid for.
The town opened a line of credit initially to pay for the work but approved instead to cash out one of the town's $120,000 CDs at United Bank...