HomeMy WebLinkAboutMINUTES Administrative Committee 1970-10-26RECORD OF PROCEEDINGS
Administrative Committee
October 26, 1970
Committee: Chairman Petrocine; Trustees Dannels and Tregent
Attending: Chairman Petrocine; Trustees Dannels and Tregent
Also Attending: Town Administrator Hill
The Administrative Committee met to review the investments of temporary
funds in local banks and also various federal securities.
Temporary investments in local banks are now drawing the legal limits.
Longer term investments in various federal securities are returning
favorable interest rates based on the length of deposit.
The Administrative Committee recommends to the Board of Trustees that
the Town Treasurer be directed to continue to obtain maximum rates of
return on all investments consistent with money needs. Changes in
investments shall be considered as they come due.
There being no further business, the meeting adjourned.
Dale G. Hill, Town Administrator