Hot Springs City Council approves Engstrom Tract plat and Treasury bond reinvestment
April 12, 2025 | Hot Springs, Fall River County, South Dakota
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The City Council of Hot Springs, South Dakota, convened on April 7, 2025, to discuss several key items of new business, including the approval of a plat and financial decisions regarding investments.
One of the primary topics was the approval of the Engstrom Tract of Boulder Falls Addition. The council voted to combine two existing lots, GC 64 and GC 73, into a single tract. This motion was passed unanimously, with no special assessments attached to the lots.
In another significant decision, the council authorized the finance officer to reinvest a maturing U.S. Treasury bond. The bond, identified as number 21080103, will be reinvested for a six-month term at an interest rate of 4.03 percent. The finance officer noted that the funds must remain in reserve due to existing debt obligations, specifically referencing the Debt Service Reserve (DSR).
Additionally, the council moved to reappoint Brian Powers to the Historic Preservation Commission for a two-year term, extending his service through 2025.
Overall, the meeting highlighted the council's ongoing efforts to manage city planning and financial resources effectively, ensuring that community development and fiscal responsibility remain priorities.
One of the primary topics was the approval of the Engstrom Tract of Boulder Falls Addition. The council voted to combine two existing lots, GC 64 and GC 73, into a single tract. This motion was passed unanimously, with no special assessments attached to the lots.
In another significant decision, the council authorized the finance officer to reinvest a maturing U.S. Treasury bond. The bond, identified as number 21080103, will be reinvested for a six-month term at an interest rate of 4.03 percent. The finance officer noted that the funds must remain in reserve due to existing debt obligations, specifically referencing the Debt Service Reserve (DSR).
Additionally, the council moved to reappoint Brian Powers to the Historic Preservation Commission for a two-year term, extending his service through 2025.
Overall, the meeting highlighted the council's ongoing efforts to manage city planning and financial resources effectively, ensuring that community development and fiscal responsibility remain priorities.
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