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Selectboard authorizes new account at Mascoma Savings Bank to capture higher interest
Summary
The Selectboard authorized the Treasurer to open an account at Mascoma Savings Bank with Mary Collins and Charles Schulze as signers and to transfer the town’s current sweep account to benefit from better interest rates.
The Selectboard voted to authorize Treasurer Mary Collins to open a new account at Mascoma Savings Bank with designated signers Mary Collins and Charles (Chuck) Schulze so the Town can take advantage of improved interest rates. The action was moved by Chair Susan Culp and seconded by Andrew Lee and recorded in the minutes as approved.
The minutes note that "The Town’s current “sweep” account will be transferred to take advantage of better interest rates." The Board did not record a detailed dollar value in the minutes; warrant totals were listed elsewhere in the record.
