Council secures finances

Published 12:00 am Tuesday, January 29, 2008

From Staff reports

VALLEY GRANDE &8212; The city council is taking steps to protect the town&8217;s finances, now and in the future.

On Monday night, Ordinance No. 2008-43 was unanimously adopted. The ordinance is an amendment of Ordinance No. 2003-06, which outlined specific bank names into which the deposits could be made. For instance, some of the town&8217;s funds are handled by BankTrust, which was previously People&8217;s Bank and Trust Company. Because of the name of the bank, having municipal funds deposited there was out of compliance with the ordinance. The new document alleviates the need to amend the ordinance should a bank change its name.

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