CHICAGO -- Cuyahoga County, Ohio, sold $265 million of short-term securities late last week from its nowdefunct government investment pool to help pay off $246 million of tax-and current-revenue notes that mature Dec. 30.

The Thursday sale resulted in a loss of $14.5 million, leaving the county $250.7 million for the principal and interest payment on the notes and for other cash flow needs, according to Dennis Roche, a county spokesman.

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