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Venice City Manager Seeks Tax Break via Arbitrage Plan
Venice city manager Dale Rieth discusses using arbitrage to cut ad valorem taxes. The memo proposes borrowing up to 3 million dollars from local banks, collateralizing with anticipated tax revenues, and investing the escrowed funds at higher rates to generate profit for the city. He cites ICMA and others using the method and notes potential gains of one or more mills yearly.
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Venice
Random House Dictionary
Dale Rieth
Rieth
City Hall
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