State Treasurer Nancy Farmer has taken the wraps off a new investment proposal designed to benefit small municipalities and counties in the state. It would allow these local governments to pool certain available funds andbond proceeds for investment purposes. State Treasurer says this idea has been successful elsewhere – as it is in place in 31 states. The investment pool would be administered by the State Treasurer’s Office. The investments would not be guaranteed by the state, but Farmersays they would be as secure as any other state investment.
