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House Bill 1895

House Bill 1895

ARCHIVE (2003)

Latest Information

DIGEST OF HB1895 (Updated March 5, 2003 10:39 AM - DI 84)

Investment of public funds. Allows political subdivisions to form a joint investment fund for the investment of public funds. Requires approval of the local board of finance and the legislative body of the political subdivision before the political subdivision may participate. Requires the board of the joint investment fund to establish written guidelines for the investment of public funds based upon trust investments and the Uniform Prudent Investor Act. Requires annual audits and daily and monthly reports for each political subdivision.
Current Status:
In Committee - 2nd House
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