|
|
Article: Investment of Social Security fund surplus in munis gets lukewarm GFOA approval. (Government Finance Officers Association)
- Article from:
- The Bond Buyer
- Article date:
- June 5, 1991
- Author:
CopyrightCOPYRIGHT 1991 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
DENVER -- A controversial measure dealing with the investment of surplus Social Security trust funds in state and local government securities received tepid approval yesterday from delegates in a voice vote at the Government Finance Officers Association annual meeting.
The GFOA policy statement, which also found some dissent among members of the group;s executive board and debt and fiscal policy committee, recognized the importance of ensuring the safety of the trust funds. But the measure also stated the group's support for proposals that broaden the market for municipal securities.
Some delegages, who voted against the policy statment, said they were ...