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Investment of Public Funds

January 13, 2009

With the volatile financial markets, many governmental entities are concerned about their investment of public funds.  While Miller Canfield does not offer investment advice, we can help you understand the options available to your entity and keep you informed about changes made to the law which may affect your investments.

Act 20, Public Acts of Michigan, 1943 (MCL 129.91 et seq.), and the Revised School Code, Act 451, Public Acts of Michigan, 1976 (MCL 380.1 et seq.), list permitted investments for municipalities and school districts, respectively.  These acts authorize municipalities and school districts to invest in any of the listed securities, but provide no assurance that the choices are financially prudent.  Keep in mind the following as you consider investment options:

We encourage you to thoroughly review the substance of all available investment tools in order to make informed investment decisions appropriate to your entity.

Miller Canfield would be happy to discuss investment options available to public entities.