Gage County majority declines to sign City resolution to withdraw long-dormant GCED funds

County leaders on Dec. 24 debated whether to sign a City of Beatrice resolution that would enable withdrawal of long-dormant GCED funds (total discussed at about $26,000) held at Pinnacle Bank so the money could be reallocated to an economic-development organization. After extended discussion, a majority of supervisors elected to take no action at this meeting and to remain with their previously passed county resolution.

The city had proposed language stating its and the county’s intent to reallocate the funds to a merged organization (Engage/Main Street Beatrice). County members raised procedural concerns (whether the bank would permit transfer, who is authorized on the old account, and whether the board could rescind its own prior resolution without an agenda item). One supervisor characterized the city language as a financial “threat” and questioned whether the city would actually withdraw the funds unless both parties agreed to reallocate them.

The board did not vote to sign the city’s resolution; the chair said the county will keep its prior resolution in place and that the dormant funds will remain in the bank account pending further action. The chair noted the funds might still be spent by the county (via the general fund) even while they remain in the original account.

What happens next: The matter may be returned to a future agenda if supervisors want to pursue a formal rescind-and-replace of the county resolution or to negotiate a joint approach with the city. For now the county’s earlier resolution stands and the funds remain in the bank account.