New Castle County Proposing New Way to Fund Stock Exchange - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

New Castle County Proposing New Way to Fund Stock Exchange

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WILMINGTON, Del. (AP) - New Castle County officials are asking lawyers if money gifted by a DuPont executive's estate for parks can be used to cover start-up costs on a private stock exchange based in Wilmington.
    
The News Journal of Wilmington (http://delonline.us/1MGBA4k ) reports that officials had initially said no county funds would be used for the proposed stock exchange, which was announced in July.
    
County Economic Development and Policy Director Marcus Henry now say the county is exploring whether $3 million can be taken out of the county-controlled Garstin Trust Fund and transferred to the Delaware Board of Trade Holdings to help finance the initial phase of the proposed stock exchange.
    
Under the plan, interest would still be used to fund parks.
    
The funding option is expected to be discussed with County Council members next week.
    

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