Published Friday, July 13, 2007
Newsday
by Tami Luhby
If Suffolk County succeeds in forming a municipal investment pool, it would
join a growing number of governments nationwide that have created such accounts
in hopes of securing greater interest income and cutting borrowing and
investment costs, experts said.
Yesterday, Suffolk County Executive Steve
Levy formally proposed that the county, towns and school districts aggregate
their revenues of up to $5 billion annually. This would reduce borrowing costs
and generate tens of millions of dollars in additional interest income, he said.
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