BATON ROUGE, LA – The Louisiana Asset Management Pool (LAMP) recently enrolled new local government clients, pushing its total participation to more than 300 members, according to LAMP Marketing Representative Jo Reynolds, who announced the increase at the April 6 board meeting.

LAMP is a cooperative endeavor that assists local Louisiana governmental entities in the investment of their cash balances. Participants include municipalities, parish governments, school boards, levee boards, sheriff departments, district attorneys, utility districts, local government units and other political subdivisions.

The newest members include the England Economic & Industrial Development District in Alexandria, the St. Landry Parish Assessors Office and the City of Ville Platte.

State Treasurer John Kennedy, who presides over LAMP, credited the programs steady growth to the Board of Directors responsible fiscal management of the investment fund.

LAMP provides its participants with a competitive yield on their funds, while ensuring same day access to funds and safety of principal, Kennedy says. The program has become a well-recognized and credible investment alternative for local government units.

By government entities pooling their assets through LAMP, they are able to benefit from the same level of professional money management that is otherwise available only to larger institutions, he adds.

LAMP received its first participant in January 1994, and as of April 2000, has 302 local governmental units. Collectively, the membership boasts an investment of more than $743 million in local government funds. LAMP has an AAA rating by Standard & Poor’s, the highest quality rating available, and as of April 14, 2000, is offering its members a seven-day yield of 5.86 percent.

For more information about LAMP, including its latest rates and participants, as well as a list of upcoming events, board members, and staff and officers, contact the LAMP website at http://www.lamppool.comor call the LAMP office at 504-525-LAMP (5267) or toll-free at 1-800-249-LAMP (5267).

Contact:
Delia Taylor, Communications Director
(225) 342-0010