The goal is for State Legislative representatives to write and support bills in the interest of towns and their citizens. Following is a partial list and explanation of items on our agenda for 1998. Investment options One of the ways towns make money is by investing money on hand. More money made in investments can help offset future tax increases. According to New York State law, investment options for towns are limited.
Most investments are fairly safe, recognizing the importance of protecting the principal amount.
These investment options, however, do not yield the highest returns. One way towns have increased the amounts made on investments is by pooling money. By two or more towns investing money together, the principal amounts are higher, resulting in better returns on investments. This is all done under the current law, in an organized manner that is closely scrutinized. In recent years, various legislation has been written to curtail this investment activity.