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Commissioners unanimously directed staff to negotiate an agreement with WSU to purchase 520 Hilbert Street after a closed session. They also unanimously approved an updated Financial Management Policy, including investment limits such as 75% for money market investments and 10% for repurchase agreements.
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The Port Authority has authorized negotiations for 520 Hilbert Street, but the minutes do not show that a purchase has been finalized. The updated financial policy sets rules for investing funds and taking on debt, including limits on how much of the portfolio can be placed in specific investment types. Final December financial figures are expected in June after the audit process is complete.
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