The Canton City Council Thursday night turned down a resolution that would have cleared the way for city funds to be deposited into a state-managed investment pool so that they could earn a higher interest rate. They did agree that the matter deserves further study.
A city staffer said investment in the Georgia Fund 1 would require a council resolution before any city cash could be deposited. The council balked at the idea after mayor Gene Hobgood said he opposed putting any taxpayer money at any form of risk. One council member did point out that the fund was Triple-A rated.
The city manager and chief financial officer will return with a more detailed plan.
In other action, the council approved a proposal to require special signage at package store outlets and businesses serving alcohol to warn of the dangers of DUI. And they signed off on a proposal to allow dogs in Etowah Park on a permanent basis.
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