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Briefly: Village to invest $500k



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November 10, 2010 - The Village of Lake Orion is looking to move around $500,000 earmarked for the streetscape and Children's Park improvements from the water and sewer fund into Oakland County's investment pool.

The pool currently earns over one percent interest, a great deal higher than the .14 percent currently earned by the water and sewer fund, and offers next-day liquidity. Village Treasurer Willa Smitko recommended moving the money at the village council's Oct. 25 meeting.

"This looks like a great program," said Village Council President Ken Van Portfliet. "When I read this, I was thinking, 'Gosh, I don't know why we didn't do this earlier.'"

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