The Central Utah Water Conservancy District may be at the mercy of Mother Nature when it comes to using water to keep Utah green, but the district has found another way to add a little green to the Utah landscape.
The district's board of directors has voted to retain its policy of using Utah banks to invest the district's surplus funds.A new listing of approved investment institutions released by the state treasurer's office included a number of out-of-state banks not previously included on the list. And, many of the non-Utah banks offer interest rates above those currently available in Utah.
But board members agreed tax money raised in Utah should be kept in the state where possible and that investments should be made in institutions that contribute either directly or indirectly to the state economy. The board also indicated a preference for limiting investments to municipal bonds, certificates of deposit and government securities rather than the more risky corporate investments on the approved list which also tend to offer higher interest rates.