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Town to place $245,000 in seven‑month CD to reserve fire equipment funds
Summary
Treasurer Mary Collins recommended and the board approved opening a 7‑month certificate of deposit at Community Bank N.A. for $245,000 at an APY of 3.15% to hold partial fire department equipment reserve funds; authorized signatories are the Treasurer and Assistant Treasurer.
The Selectboard approved Treasurer Mary Collins' recommendation to open a seven‑month certificate of deposit at Community Bank N.A. for $245,000 with an annual percentage yield of 3.15%. The minutes state that partial fire department equipment reserve funds will be deposited into the account and that authorized signatories will be Mary Collins (Treasurer) and Charles Schulze (Assistant Treasurer).
The motion to accept the Treasurer's recommendation was recorded as moved by S. Culp and seconded by J. McKelvey. The minutes do not include a roll‑call vote; the motion was approved by the board during the meeting.
