Task Force on John Gardner Black Scandal, Chaired by Pennsylvania Treasurer Barbara Hafer, Sets Philadelphia Hearing; Will Air Local Government Investment Reform Legislation

Sep 07, 1999, 01:00 ET from Pennsylvania Department of the Treasury

    PHILADELPHIA, Sept. 7 /PRNewswire/ -- A special bipartisan task force will
 hold a public hearing in Philadelphia on Friday to hear local officials and
 other witnesses comment on legislation intended to prevent a repeat of the
 John Gardner Black municipal investment scandal.
     The hearing, by the Bipartisan Task Force on School and Municipal
 Investments, will be held Friday, September 10, in the 17th Floor Conference
 Room of the State Office Building here, beginning at 9:30 a.m.
     State Treasurer Barbara Hafer chairs the Task Force.  Other members are
 the majority and minority chairs of the Senate and House Finance Committees:
 Sen. Melissa Hart, Sen. John Wozniak, Rep. Karl Boyes and Rep. Fred Trello.
     The task force was formed in the wake of the Black scandal, in which more
 than 50 municipalities and school districts across Pennsylvania lost more than
 $70 million.  The task force drafted a proposed Local Government Investment
 Reform Act and has been holding hearings.  Friday's hearing is the third and
 is expected to be the last.
     The proposed legislation will then be finalized and introduced, Hafer
 said.
     The full witness list for the Philadelphia hearing, in order of
 appearance, is:
     Tracy Massey, President, Pennsylvania County Treasurer's Association/
      Chester County Treasurer
     Jay Ledvina, Group & Pension Manager, Principal Financial Group
     Dr. Richard Bauer, Executive Director, PA School District Liquid Asset
      Fund
     Robert Long Jr., Esq., Rhoads and Sinon LLP
     Caroline V. Cassels, Manager of Finance, Chester County
     David Eckhart, President, Investment Management Advisory Group, Inc.
     Patrick Cusatis, Vice President, First Union National Bank
     Katherine Clupper, Vice President, First Union Capital Markets
     Marty Margolis, Managing Director, Public Financial Management
     Dr. Gary Gray, Professor of Finance, Pennsylvania State University
 
     NOTE:  For additional information regarding the Task Force and the
 proposed legislation, see the Treasury Web site, www.treasury.state.pa.us .
 
 

SOURCE Pennsylvania Department of the Treasury
    PHILADELPHIA, Sept. 7 /PRNewswire/ -- A special bipartisan task force will
 hold a public hearing in Philadelphia on Friday to hear local officials and
 other witnesses comment on legislation intended to prevent a repeat of the
 John Gardner Black municipal investment scandal.
     The hearing, by the Bipartisan Task Force on School and Municipal
 Investments, will be held Friday, September 10, in the 17th Floor Conference
 Room of the State Office Building here, beginning at 9:30 a.m.
     State Treasurer Barbara Hafer chairs the Task Force.  Other members are
 the majority and minority chairs of the Senate and House Finance Committees:
 Sen. Melissa Hart, Sen. John Wozniak, Rep. Karl Boyes and Rep. Fred Trello.
     The task force was formed in the wake of the Black scandal, in which more
 than 50 municipalities and school districts across Pennsylvania lost more than
 $70 million.  The task force drafted a proposed Local Government Investment
 Reform Act and has been holding hearings.  Friday's hearing is the third and
 is expected to be the last.
     The proposed legislation will then be finalized and introduced, Hafer
 said.
     The full witness list for the Philadelphia hearing, in order of
 appearance, is:
     Tracy Massey, President, Pennsylvania County Treasurer's Association/
      Chester County Treasurer
     Jay Ledvina, Group & Pension Manager, Principal Financial Group
     Dr. Richard Bauer, Executive Director, PA School District Liquid Asset
      Fund
     Robert Long Jr., Esq., Rhoads and Sinon LLP
     Caroline V. Cassels, Manager of Finance, Chester County
     David Eckhart, President, Investment Management Advisory Group, Inc.
     Patrick Cusatis, Vice President, First Union National Bank
     Katherine Clupper, Vice President, First Union Capital Markets
     Marty Margolis, Managing Director, Public Financial Management
     Dr. Gary Gray, Professor of Finance, Pennsylvania State University
 
     NOTE:  For additional information regarding the Task Force and the
 proposed legislation, see the Treasury Web site, www.treasury.state.pa.us .
 
 SOURCE  Pennsylvania Department of the Treasury