NORTHPORT — The town’s Select Board voted Aug. 8 to approve investing $500,000 of the town’s funds in a short-term certificate of deposit in order to take advantage of higher interest rates.

According to Town Administrator James Kossuth, the town has tried to establish an investment committee for such issues but has been unable to get enough people to volunteer to be on the committee. The investment will be a six-month CD.

During the meeting the board also approved the purchase of new signs for the school zone on Bayside Road to supplement the existing signs.

Kossuth said Coastal Mountains Land Trust had submitted a proposal to add a driveway/parking area for its preserve on Prescott Hill Road. The board and the road commissioner would prefer that parking be off the street as opposed to along the shoulder of the road.

Kossuth said he is still working with the Federal Emergency Management Agency to provide necessary documentation to support the town’s reimbursement request from a storm from Oct. 31, 2021.

The board will also be holding a special public hearing for The Hoot’s special amusement permit application on Aug. 18 at 6 p.m.