New York City Comptroller Elizabeth Holtzman has hired lawyers at Davis Polk & Wardwell to represent both her and her campaign as a city investigation continues into conflict for interest allegations surrounding the selection of an underwriter for city bond deals, officials at the comptroller's office say.

The inquiry by the New York City Department of Investigation emerged in May, following reports that Holtzman's office had recommended the appointment of Fleet Securities as a co-manager of city bond sales after the firm's corporate affiliate, Fleet Bank, made a $450,000 loan to Holtzman's failed campaign for the U.S. Senate in August 1992.

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