The Pennsylvania Statement of Interest Exchange (DSC:15-345) is a public finance program designed to help local government entities raise funds by exchanging their outstanding tax-exempt obligations for marketable securities. The program enables eligible governments to exchange their existing debt for a portfolio of short-term and long-term securities, including Treasuries, corporate bonds, and mortgage-backed securities. The exchange provides an efficient and cost-effective option for governments to access the capital markets. There are two types of Pennsylvania Statement of Interest Exchange (DSC:15-345): the Pennsylvania Local Government Investment Pool (LAP) and the Pennsylvania Local Government Investment Trust (LEGIT). The LAP is a short-term, interest-bearing portfolio managed by the Pennsylvania Department of Community and Economic Development, while the LEGIT is a long-term, fixed-income portfolio managed by the Board of Investments of the Commonwealth of Pennsylvania. Both of these exchange programs offer governments access to the capital markets and provide a cost-effective means of funding various projects.