Library Trustees approve CD reinvestment strategy with emphasis on rate stability.
Library Trustees approve endowment CD reinvestment strategy prioritizing rate stability. Trustees voted unanimously to reinvest the Library Endowment CD maturing July 22, 2026, with the institution offering the highest annual percentage yield on a 35-month term, following a recommendation from Town
Library Trustees · Meeting of July 13, 2026
CHELMSFORD — Library Trustees approve endowment CD reinvestment strategy prioritizing rate stability. Trustees voted unanimously to reinvest the Library Endowment CD maturing July 22, 2026, with the institution offering the highest annual percentage yield on a 35-month term, following a recommendation from Town Finance Director John Sousa. Treasurer Adam Schertzer reviewed trust account restrictions and anticipated spending needs for fiscal 2027, while the board assessed maturation dates for other CDs to evaluate fund availability.
The board also directed Sousa to ask whether Rockland Trust would match competing rates from Lowell Five.
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Source: the Library Trustees meeting of July 13, 2026, compiled from the official minutes.
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