SHEEO Query: Authority to Issue Commercial Paper

On November 28, 2012, SHEE staff sent this query to state agency finance officers:

Arizona’s public universities are currently evaluating the viability of implementing a commercial paper program as a way to lower interest expenses and increase its liquidity.  New statutory authority would need to be enacted to establish a commercial paper policy and borrow on an unsecured basis.  Are there other public institutions that currently have the authority and issue commercial paper?

State responses can be found here.

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