OPEN TO THE PUBLIC Available to Purchase

While each of our fifty states have varied restrictions on legal investments for library funds, generally, putting funds into new issues as opposed to securities is considered inappropriate for money generated through public taxation. Since endowment portfolios show more flexibility, with limitations set basically by the terms of the trust, it is within this parameter that a knowledgeable investor can turn to the new‐issue market as a way to take part in the development of a potential resource for higher earnings for the library.