(d). local governmental entities in that state
LGIPS marketed by broker-dealers is an investment vehicle offered to:- _<u>(d). local governmental entities in that state</u>
<h3 /><h3>What are LGIPs(Local government investment pools)?</h3>
State-created local government investment pools give other governmental organizations (such as cities, counties, school districts, or other state agencies) a short-term investment vehicle, frequently in the form of a trust, to buy shares or units in a portfolio of investments. Typically, a municipality's involvement in an LGIP is governed by state law. LGIPs can be set up as state-sponsored, county treasurer-sponsored, or through so-called "joint powers" agreements, which are intergovernmental agreements. For the benefit of the municipalities and other public entities located within the state, state-sponsored LGIPs are supervised and managed by the state treasurer or another governing body with the necessary authority. Alternately, if permitted by state law, local governments may collaborate through a joint powers agreement to establish an authority to sponsor an LGIP that runs independently of the state government. In this instance, a board of trustees composed of experts in government treasury and investment procedures normally oversees the authority.
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