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� <br />City of <br />Pequot <br />Lakes = - <br />Date: <br />AGENDA ITEM #3.4A. <br />REPORT TO <br />CITY COUNCIL <br />January 4, 2011 <br />Subject: Library CD <br />Report: The Library would like to redeem CD #22128 at <br />Lakes State Bank in the amount of $53,485.27 which <br />`- matures on 1-16-11. They would like to purchase a five- <br />year CD at Lakes State Bank for the same amount at an <br />interest rate of $2.25%. <br />Council Action Requested: Council motion authorizing <br />redemption of CD and purchase of a new CD. <br />�.. <br />