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Alexandria board selects Community Bank for CD placements
Summary
Board members selected Community Bank of New York as the institution to receive certain certificate of deposit investments after reviewing three quotes; members discussed timing and the option to use a money-market interim placement.
The Town of Alexandria board voted Aug. 29 to select Community Bank of New York as the preferred institution for forthcoming certificate of deposit placements, following a presentation of three competitive quotes.
S2 read the resolution selecting Community Bank: "The town board of Towne Rose Area has selected Community Bank as the final institution they wish to use." Board members discussed leaving proceeds temporarily in a money-market account while aligning maturities and noted a six-month CD option looked suitable to match other timing concerns.
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