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Bill would allow local governments to increase investment revenue

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Courtesy of Landmark News Service

Local government entities could have new ways to increase investment revenue under a bill that passed the House and is awaiting attention in the state Senate.
Most local governments now rely on investments such as securities and certificates of deposit, often at a poor rate of return. House Bill 75 would allow them to pursue more aggressive investment through mutual, closed-end and exchange-traded funds and through high-quality corporate bonds — all within certain limits and under the guidance of a professional investment adviser.


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The Spencer Magnet | circulation@spencermagnet.com | 502-477-2239
P.O. Box 219, 100 W Main Street, Taylorsville, KY 40071
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