Louisiana to Hold its First Jumbo CD Auction on April 17

On Tuesday, April 17, 2001, the State of Louisiana will hold its first Internet auction for jumbo certificates of deposit (CDs) on its private-label website (www.BidLouisiana.com) created by the Grant Street Group. The Louisiana Department of the Treasury will conduct quarterly auctions for the placement of $50 million in State funds with Louisiana banks offering the best rates. Louisiana is the fourth state to utilize this on-line, competitive auction platform for its CD investments, joining the ranks of Ohio, South Carolina and Texas.