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Community Power board authorizes investing reserves in state Local Agency Investment Fund
Summary
The board approved a resolution authorizing San Diego Community Power to invest up to $75 million in the California Local Agency Investment Fund (LAIF), citing higher yields than the agency's money-market account and alignment with reserve-building goals.
The San Diego Community Power Board of Directors on Sept. 25 voted to authorize placing agency funds in the California Local Agency Investment Fund (LAIF), a state-managed pooled investment vehicle.
Eric Washington, chief financial officer and treasurer for San Diego Community Power, presented the item and told directors that LAIF offers higher yields than traditional money‑market accounts and is allowed under the agency's investment…
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