ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, December 8, 1994                   TAG: 9412080043
SECTION: VIRGINIA                    PAGE: A-10   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

STATE TREASURER SAYS IT WON'T HAPPEN HERE

The bankruptcy protection sought by Orange County, Calif., is not likely to be repeated in Virginia, according to State Treasurer Ronald L. Tillett. In a statement issued Wednesday, he said the state and its Local Government Investment Pool "does not use, nor does it plan to use investments in derivative products or leveraged investments."

"Recent events involving Orange County, Calif., and its investment pool have raised significant concerns about government investment," Tillett said. Virginia's funds are invested in safe and high quality investments, he said.

"The investment objectives, in order of importance, are safety, liquidity and yield. The preservation of capital is, therefore, the primary consideration of all investment of the commonwealth of Virginia," he said.

- Staff report 


 by CNB