Summary
FONTANA - The City Council has adopted a resolution that limits the amount of money that can be invested in corporate bonds, in the wake of losing $10 million when Lehman Brothers went bankrupt in September.
"The city of Fontana got stung with the collapse of Lehman," said City Manager Ken Hunt. "It wasn't foreseen. It's those kinds of things that prompt more caution."See the full content of this document
Extract
Fontana Tightens Investment Policy
The city's State of Investment Policy has been modified to restrict such investments in any given fun...
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