State Fund Freezes Investments

Tallahassee, FL – Leon County Commissioner Cliff Thaell says the local government Investment pool has
saved cities and counties hundreds of millions of dollars since its creation more than 20 years ago. He says until recently it was well-managed. When Bloomberg reported that the fund was holding junk bonds, local governments withdrew 10 billions dollars. Now its future is uncertain. But Thaell says state officials can save the fund by creating a better
flow of information between the investment pool and local governments. He suggests a
committee composed of local government representatives.

it would enable two way conversation with the local government, who is after all the investor.

The ultimate responsibility for the Investment Pool restes with Governor Charlie Crist, Attorney General Bill McCollum and Chief Financial officer Alex Sink. They will meet Tuesday morning.