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Senate Bill 0191


Senate Bill 0191

ARCHIVE (2012)

Latest Information

 

DIGEST OF SB 191 (Updated February 28, 2012 3:04 pm - DI 84)


Local government investments. Permits a political subdivision to authorize its investing officer to invest public funds for a maximum term of five years. (Under current law, the maximum term is generally two years.) Requires the fiscal body of the political subdivision to approve a written investment policy and adopt an ordinance to provide this authority. Provides that the authority expires on the date of the expiration of the policy which may not exceed four years. Limits the amount that may be invested for more than two years to 25% of the political subdivision's total portfolio of public fund investments, including transaction accounts. Changes population parameters to reflect the population count determined under the 2010 decennial census.
    Current Status:
     Law Enacted
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