Catalog Search Results
Author
Series
Issue brief volume 18-09
Description
In lieu of issuing bonds, or using another form of long-term debt, the state often uses a form of lease-purchase agreement called certificates of participation (COPs) to finance the construction of its new facilities. A certificate refers to an investor's proportionate interest in the state's lease payments. COPs give the state the flexibility to build capital facilities even when funds are not available to pay for projects on a pay-as-you-go basis....
60) Investments
Author
Pub. Date
[date of publication not identified]
Description
The State Treasurer has set an investment policy stressing, in order of importance, safety, liquidity, and return as the key goals for all of the taxpayers' funds entrusted to her. To meet these goals, all funds under Treasury's management are in fixed-income portfolios