WebPUBLIC FUNDS PLEDGING FREQUENTLY ASKED QUESTIONS 1. My institution uses an insured cash sweep product to limit our public funds exposure. Are we required to pledge collateral if there is a “lag” between when the deposit posts with our institution until it is “swept” into the network? a. Yes. Web(a‑1) In addition to any other investments authorized under this Act, a municipality may invest its public funds in interest bearing bonds of any county, township, city, village, incorporated town, municipal corporation, or school district, of the State of Illinois, of any other state, or of any political subdivision or agency of the State of Illinois or of any other …
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