Dive summary:
- The Kanawha County Solid Waste Authority in Charleston, West Virginia, invested in CDs in the early 1990s with plans to close a landfill in the Cross Lanes area.
- The account started with $70,000 but has more than tripled over the past two decades.
- The fund won't fully mature until 2018, but board members are trying to convince state officials to release the funds earlier to pay off bond debt, since action from the Governor's Office would be required.
From the article:
The struggling Kanawha County Solid Waste Authority has about $250,000 in an account that it can't get its hands on, board members learned during a meeting Tuesday.
The account was started in the early 1990s to close a landfill in the Cross Lanes area, board member Greg Sayre said. ...