TITLE

Counting Seconds, Cash

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/15/2004, Vol. 350 Issue 32030, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Cook County, Illinois chief financial officer Tom Glaser used Grant Street Group's Internet site, www.gfoayield.com, to handle an investment auction. The online auction would determine which parties would get the opportunity to invest $430 million of county bond proceeds. Public finance officials typically use financial advisers, trustees, or the open market to invest bond proceeds, parking them in liquid securities that are flexible enough to make the funds available as needed by state and local government borrowers. For Glaser, using the Internet frees up time and labor and satisfies his passion for transparency in government finance.
ACCESSION #
15438472

 

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