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Commissioners find private‑placement purchases violated county investment policy; issue written findings
Summary
During a semiannual review covering July 1–Dec. 31, 2024 the Delaware County Board of Commissioners found private‑placement bond purchases that were not reviewed or approved by the investment advisory committee as required by county policy and confirmed written findings by resolution 25-175.
The Delaware County Board of Commissioners on March 6, 2025 confirmed a semiannual review of county investment procedures for the period July 1–Dec. 31, 2024 and issued written findings that at least three private‑placement bond purchases violated county policy requiring unanimous approval by the investment advisory committee.
Barb Lewis, president of the Delaware County Board of Commissioners, read the policy language adopted by the investment advisory committee in May 2023 including Section 5(b): “The treasurer shall not purchase directly by private placement any bonds or other obligations of political…
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