The New Jersey ban on negotiated sales is no longer needed because of new federal regulations banning most political contributions from bond dealers, the Public Securities Association said Friday.

Testifying before an advisory panel appointed by Gov. Christine Todd Whitman to study the ban created under former Gov. Jim Florio, PSA president Heather Ruth said the state should allow for broader financing policies that would permit the state and its authorities to sell bonds on a negotiated as well as competitive basis.

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