Guthrie County Board of Supervisors Meeting
September 30th, 2011 by Doug Evans
Banks in Guthrie County made a presentation to the Guthrie County Board of Supervisors Tuesday saying they are not interested in holding the county’s estimated $12 million in revenue.
The banks say they would prefer not to hold the money until the revenue is divvied out to local schools and cities later in October. That presentation was made by Guthrie County Treasurer Marcia Kindred and Guthrie County State Bank President Barry Monaghan.
Monaghan says because there are currently very few construction projects taking place, the area banks already have money on hand, but no one to lend it to. She says that they only have two construction loans out this year, when in a normal year they usually see about 15.
The Supervisors eventually voted unanimously to deposit the tax revenues with the Iowa Public Agency Investment Trust.