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Commerce to transfer 25% of fund balance into LOGIC investment pool to earn higher interest
Summary
The council approved an application to join LOGIC (Local Government Investment Cooperative Trust) and staff said they plan to move 25% of the city’s fund balance into the pool to seek higher interest while maintaining liquidity.
The Commerce City Council approved a resolution Aug. 19 allowing the city to apply for participation in LOGIC, a local government investment cooperative trust, and staff said they plan to transfer about 25% of the city’s fund balance into the pool.
Assistant City Manager for financial services Miss Campbell described LOGIC as another governmental investment pool that…
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