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� <br />�. <br />� <br />City of <br />Pe uot <br />q <br />Lakes <br />Date: <br />AGENDA ITEM #3.4A <br />REPORT TO <br />CITY COUNCIL <br />July 3, 2012 <br />Subiect: Request to Purchase CD <br />Report: The Library Board is requesting to purchase two <br />CD's from Lakes State Bank in the amounts of $10,000 and <br />$5,000. <br />The CD's will be committed as follows: <br />$5,000 — Endowment — with the interest to be used to <br />ensure the future of the library <br />$10,000 — Rainy Day fund available for necessary <br />expenditures <br />Council Action Requested: Council motion authorizing <br />the purchase of two CD's per request of the Library Board. <br />