The majority of the North Wilkesboro commissioners on Thursday unofficially agreed on investment plans for $15 million the town received when the former Wilkes Regional Medical Center was leased to Wake Forest Baptist Medical Center in Winston-Salem in July.
The plans, as outlined by Mitch Brigulio of Charlotte based Davenport and Company, call for investing $5 million short term with the North Carolina Capital Management’s Term Portfolio and investing the remaining $10 million in U.S. Treasury or other Agency Securities through 2027.
Commissioner Joe Johnston asked the board to consider developing a more formalized plan on potential uses of the money not invested long term.
“We’ve been talking about how we should spend this money for a long time and I’ve been asking for something like this all along,” Johnston said, suggesting fellow board members take the next month to compile a list “needs,” along with other data which they could discuss during in a retreat-like session.
“We all need to be on the same page about this and let the public know what we are asking for,”