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The Clarksville Gas and Water Department, TN,

uses GFOA YieldAdvantage to Obtain Better Yields

 

Joining the City of Clarksville, the Clarksville Gas and Water Department, TN, became the latest Tennessee user of GFOA YieldAdvantage. Offered by the Government Finance Officers Association, GFOA YieldAdvantage is an Internet auction platform that automates the investment process while increasing competition for public funds.

 

On February 1, 2007, Clarksville Gas and Water Department used GFOA YieldAdvantage to conduct an open format auction for certificates of deposit. Local banks submitted multiple competitive bids during the live bidding process. The increased competition in the GFOA YieldAdvantage auction significantly increased the rates the Department received.

 

GFOA YieldAdvantage is a Web-based investment auction platform offered through an alliance of the Government Finance Officers Association and Grant Street Group.  Through the use of GFOA YieldAdvantage, state and local governments are able to solicit bids easily and efficiently from a larger number of financial institutions via the Internet, enhancing the investment of government funds.     

    

 

 

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