Improving city investments under review

GAINESVILLE - Gainesville City Council looked at making a change for higher investment returns Thursday on advice from Finance Director Melody Marlowe.

Marlowe said the state's pooled investment program called 'Georgia Fund 1' is producing better returns than other investments.

"If we can look at increasing our investment in that Georgia Fund 1 it could increase our investment earnings for the city," Marlowe said.

Marlowe recommended increasing the city's investment in the state investment pool to 40 percent.

Marlowe also recommended SunTrust Bank to continue handling the city's banking services for the next three years over six other Gainesville banks that sent proposals.

http://accesswdun.com/article/2007/11/204054