CHICAGO -- Cuyahoga County, Ohio, has begun selling off a large portion of its investment portfolio and is contemplating issuing debt in conjunction with the restructuring of the remainder of the portfolio, a county official said last week.

County commissioners, acting on advice from Banc One Investment Advisors, agreed on Thursday to sell securities with a market value of about $544 million in the so-called leveraged portfolio, according to Dennis Roche, a county spokesman.

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