The Dorr Township Board Thursday evening voted 6-1 to allow Treasurer Laurie Perry to use Michigan CLASS as another investment tool.
The policy will be implemented through Lake Michigan Credit Union, with carries 1.66 percent in interest, a rate far better than what is offered by most banks.
However, Trustee Chandler Stanton said he learned United Bank, which is right across the street from the township hall, has sweetened the pot to 1.60% and he suggested Dorr Township switch to do business locally. He further maintained United Bank’s money is insured by FDIC.
He said not switching would be “poor stewardship of the township’s money.
Clerk Debbie Sewers said LMCU does all business with banks that also are FDIC insured.
A separate account would be needed/used for the DDA. Sub-accounts would be established for general fund, fire, capital Improvements, roads and possibly the sewer debt service.
It was noted that he Citizens’ Road Committee approves of the idea because it would add an estimated $10,000 interest per year.
The township’s lead auditor, Dan Veldhuizen, made the suggestion that Dorr make use of Michigan CLASS, as he has audited several of the local governments who use them.
It was agreed that the township’s investment policy would be reviewed in the future.
In other business at Thursday’s meeting. The board:
• Fielded a complaint from citizen Slender Broek, who talked about the unsightly and perhaps property of Lois and Karen Smit. He said there are five vehicles on the property and the possibility of attracting rats.
Supervisor Jeff Miling said the two women have been feuding with the township for a long time and “There’s a lot of stuff we can’t do anything about.”
It also was pointed out that the Smits have a fence with questionable commentary in front of the site.
However, Trustee Pat Champion said he has seen plenty of “F**Biden” flags all over West Michigan and he has been told that’s freedom of speech.
• Learned that the Gun Lake Casino presented a check to the township for $17,165 as part of its biannual revenue sharing agreement.
•Was told the project for 16th Street has been completed.
• Learned that the dog park at South Park west of Dorr along 142nd Avenue has been completed.
• Was told by Library Director Jeffrey Babbitt that a record 70 people finished the summer reading program.
• Learned from Fire Chief Gary Fordham that the local department has had 110 calls for the first half of the year, the same number as this time in 2021.