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| City of Beverly Hills Treasurer Eliot Finkel on the impact of the current financial situation |
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For Immediate Release October 2, 2008 Contact: Cheryl Burnett (310) 285-2454 City of Beverly Hills Treasurer Eliot Finkel on the impact of the current financial situation on City operations: “In a time of great financial uncertainty, people are concerned about paying their bills, keeping their jobs and protecting their life-savings. It is the same for cities and government agencies across the country, which are feeling the strain of the financial crisis. The City of Beverly Hills is fortunate to be operating normally, due in part to a conservative investment policy which places safety first, liquidity second and rate of return third. In fact, Beverly Hills is one of 80 cities nationwide and one of only three cities in California to receive a AAA bond rating from all three major credit agencies. While all cities must be prudent in managing their operations, this recognition of Beverly Hills’ economic health relieves some of the pressure and ambiguity many other cities are facing.” ### . |
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