Recently, VACo announced the formation of the VACo/VML Virginia Investment Pool (VIP), a short-term financial program for local governments and authorities.
Now learn more about this exciting program by attending one of six information sessions.
Click on the image at the top and fill out the form to reserve your spot today.
VIP will provide localities the opportunity to jointly invest in relatively short-term, conservative fixed income investments as a way to improve their earnings on operating and reserve funds.
VIP is administered by VML/VACo Finance, which operates the VACo/VML Pooled OPEB Trust and offers a number of financing tools—bond issues, loans and/or leases—to local governments.
VIP is established as a trust using the Joint Exercise of Powers, pursuant to Section 15.2 – 1300 of the Code of Virginia. As such, any county, city, town or authority may participate by joining the VIP Trust.
By participating in VIP, localities will have less risk exposure to individual investments and enjoy greater liquidity than if they were to construct a similar portfolio on their own. The program is intended to supplement the Local Government Investment Pool, which is administered by the State Treasury.