Countywide : Board May Toughen Finance Policy Further

The Board of Supervisors will vote soon on a proposal that would further strengthen the county’s policy for handling municipal bonds and investments, which is already considered one of the tightest in the nation.

The policy, approved by supervisors in January, was designed to ensure that the problems that led to the county’s Dec. 6, 1994, bankruptcy filing will not recur.

The reforms prohibit the county from issuing any bonds to speculate in financial markets and disqualifies financial professionals who contribute money to a supervisor’s campaign from receiving county business.

The amendment now being considered would tighten the rules by prohibiting the county from retaining financial professionals who use lobbyists to win finance-related business from the county.

Some good-government advocates have called for the changes, saying the existing policy still allows financial professionals to use lobbyists.

County officials said Thursday that the details and language of the amendment are still being worked out and that a final decision has yet to be made on when the Board of Supervisors will take up the matter.