Government Finance Officers Association to vote Tuesday on six public policy statements

By Cristal Cody

Springdale, Ark., June 16 - The Government Finance Officers Association plans to vote Tuesday on six public policy statements, according to a Monday notice.

The association's members, at the annual business meeting held this year in Ft. Lauderdale, Fla., will vote on equal ratings for municipal and corporate bonds; to support legislation to allow Federal Home Loan Banks to offer letters of credit to municipal bond issuers without jeopardizing the tax-exempt status of the bonds; to support legislation to ban tax patents for municipal bond transactions; and to support legislation to force online retailers and businesses to pay local and state taxes at the point of sale.

Members also will vote on two revisions to policy statements.

The policy on government retirement systems calls to allow the plan's governing body to make investment decisions based on the most prudent investment strategy.

The association also will vote whether to recommend that restrictions on the investment of public funds be avoided because it usually results in lower returns.

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