Adams’ banking plan to get Wednesday hearing
A proposal from Mayor Sam Adams to overhaul the city’s banking policies in order to bring more local banks and credit unions into the fold will go before city commissioners on Wednesday.
The proposal, called the Responsible Banking Resolution, calls for depositing $250,000 of the city’s money in each of 10 Oregon banks and credit unions. The money would come from liquidating $2.5 million of the city's roughly $800 million in U.S. Treasuries and other securities.
The proposal would also increase...
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Posted on May 08, 2012
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