Local News

City of Russell Moves to More Local Investments

Published on Thursday, 13 September 2012 15:27

City of Russell officials announced recently the investment of about $4 million of city money back in to local banks.

City Clerk Sheldon Hamilton explains where the money was before and why the move was made.

"We've been investing in the Kansas Municipal Investment Pool for the last couple years," Hamilton said. "But we were able recently to get some good rates from a couple local banks and moved about $4 million back to investing in local banks and that should increase our interest by about $13,000 a year, so that's good news."