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NM

City Could Save Money With Public Bank, Study Finds

January 16, 2016 Bruce Krasnow, www.santafenewmexican.com , , ,
By Bruce Krasnow for The New Mexican - A feasibility study released Wednesday concluded that the city of Santa Fe could save money by establishing a public bank. Currently, when the city needs money to build roads, recreation centers, sewer lines, libraries or senior centers, it has to make its case to big investment firms and mutual funds that buy municipal bonds. A debt package is compiled, analyzed, rated and then advertised — and whichever financial institution offers the lowest interest rate gets to loan the city money.

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