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FOR IMMEDIATE RELEASE |
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State
Rep. John Yudichak |
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Yudichak hosts meeting for local officials on PA Invest program
HARRISBURG, April 18 – State Rep. John Yudichak, D-Luzerne, recently hosted a meeting with the state Treasury Department and municipal officials from the 119th Legislative District to discuss the PA Invest program.
The meeting was sponsored by the Luzerne County Municipal Cooperation Commission.
Ned Dempsey from the treasurer’s office gave
a presentation on the program, which has earned the highest rating from
Standard & Poor’s, and is similar to a money market fund. It was designed
specifically for local governments and nonprofits to pool their investments in
order to maximize their returns.
"The PA Invest program has helped hundreds of municipalities earn hundreds of thousands of dollars in interest payments annually," Yudichak said. "It could significantly increase the assets of our small municipalities, many of whom have been struggling lately to make ends meet."
Mike Lombardo of Gov. Ed Rendell’s northeast office and Matt Domines of the governor’s Local Government Center were also in attendance.
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