Butler City Council is moving some of the funds from the proceeds of the sale of the BASA assets.
At their forum meeting Thursday night, Council approved moving $32.5 million from the NexTier Bank account to a Fidelity Investment account.
A trust to handle $50 million at PNC Bank is in the process of being set up. Once that happens, it would leave about $10 million in the NexTier account that currently contains the full $92 million of the City’s share.
Council also accepted a Long-Range Plan for managing the funds that includes spending about $3 million this year on delayed capital projects like paving, parking lots, and Father Marinaro Park as well as the Monroe Street Bridge.
