January 16, 2013
DCA AFFIRMS INTEGRITY OF LOCAL FINANCES
Earlier today, the New Jersey Department of Community Affairs’ (DCA) Division of Local Government Services (DLGS), which regulates county and municipal financial administration, issued a Local Finance Notice inviting financial communities to invest in local government notes and bonds for rebuilding along the Jersey shore. The Local Finance Notice also identified key factors that protect holders of bonds and notes issued by New Jersey’s local governments.
The League appreciates the strong commitment by the State to stand with local governments with regard to the payment of their debts. We, too, invite the investment community to recognize the long term value of the full faith and credit of all of the governments in the State.
The League thanks Governor Christie, DCA Commissioner Richard Constable and DLGS Director Tom Neff for this strong testament to State-local cooperation and confirmation of responsible local financial stewardship. It’s easy to affirm this when everything is going well. It is even more significant that this is done on the heels of one of the largest catastrophes in our State’s history.
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For further information contact: William G. Dressel, Jr., Executive Director at (609) 695-3481, extension 122 or 609-915-9072.
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