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The City of Clarksville, TN Uses GFOA YieldAdvantage to

Increase Competition for City Funds

In order to increase bid submission, the City of Clarksville began use of GFOA YieldAdvantage, an Internet auction platform offered by the Government Finance Officers Association.

Using GFOA YieldAdvantage Clarksville placed a $500,000 investment for certificate of deposits. During a live, open auction, Clarksville received a total of 25 bids from 5 banks for two auctions of $250,000 with respective maturities of thirty days and sixty days. GFOA YieldAdvantage allowed Clarksville to solicit bids efficiently from a larger number of banks.

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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