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Senate Bill 0475


Senate Bill 0475

ARCHIVE (2003)

Latest Information

 

DIGEST OF SB475 (Updated April 25, 2003 11:30 AM - DI 84)


Public investment requirements. Permits county treasurers, fiscal officers of political subdivisions other than counties, and certain other local officials authorized by statute or by court order to invest in securities fully guaranteed and issued by federal agencies or instrumentalities (as opposed to discount notes issued by federal agencies or instrumentalities). Permits a public officer of the state to invest or reinvest funds in obligations issued, assumed, or guaranteed as to payment of principal and interest by the State of Israel. Allows the treasurer of state to contract with investment advisors and money managers. Allows the treasurer of state to invest in highest rated commercial paper. Repeals the requirement that an officer of a political subdivision or other local government agency obtain annual approval from the fiscal or governing body before making investments.
    Current Status:
     Law Enacted
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