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Bob Sprinkle City Finance Director Ocala

QUESTION:

Does s. 166.261, F. S., authorize municipalities to invest in the guaranteed portion of a Small Business Administration loan?

SUMMARY:

Unless legislatively clarified to the contrary, municipalities are authorized by the terms of s. 166.261, F. S., to invest surplus public funds in their possession or control in the guaranteed portions of United States Small Business Administration loans.

The City of Ocala and you, as the city's finance director, wish to know if investments in secondary participation United States Small Business Administration…