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Miami Herald

Two interesting items in the Miami Herald today that should have an effect on LBTS.

www.miamiherald.com

In the Broward section…..

First…. the Hollywood newly elected commission had their organizational meeting…. a good portion of it is was about ethics and what to do when a conflict of interest might come before them….such as a developer who contributed to their campaign and when to abstain from voting due to a relationship with the person or company before them that they could benefit from.

We have a commission that might need to spend some time on this subject after they get Sunshine Law and Robert’s Rules out of the way.

Our new Mayor has accepted monies from developers, and contracted out service providers such as Waste Management and BSO.

Our Commissioners McIntee and Silverstone are members of the VFD, which will be addressed right away.

All on the dais should make sure that advice is asked for well in advance of any action taken, along with all proper forms filled out for any conflict of interest.

The commissioner should then offer full disclosure before any discussion in front of of the town residents.

No one wants anything questionable, as we have seen in the past with associations to those before the dais.

In the Business Section…..

The state has chosen a new fund Manager …Federated Investors of Pittsburgh to handle its local government investment pool. This effects LBTS because we have around 2 million dollars in this fund. These are the funds that were subject to losses due to the sub-prime fallout and the run on other municipalities pulling their funds out. Before the run the fund had about 25 billion in investments. On Tuesday, the open part of the pool (which had been split by the interim fund manager) was just under 8.9 billion.

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