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Former Lake Oswego city councilor of eight years announces his candidacy Feb. 3

Former Lake Oswego City Councilor Jeff Gudman announced he would run for Oregon state treasurer today — the first day of the 2020 legislative session.

"It's time Oregonians have a trusted and transparent Treasurer, serving the needs of the people instead of a quid pro quo politician in the pocket of special interest groups," Gudman said in a press release. PMG FILE PHOTO  - Jeff Gudman announced he is running for Oregon State Treasurer Feb. 3, 2020.

Gudman, a Republican, will once again challenge Democrat Tobias Read, who narrowly defeated Gudman in the 2016 race for treasurer.

Gudman said, if elected, he will bring his experience from serving on the Lake Oswego City Council for eight years, as well as treasurer of large utility subsidies and nonprofit organizations, and business experience as an analyst and then a controller at a startup company, to the state level.

Gudman received his bachelor's degree in economics from Pomona College and later his master's degree in finance from the Wharton School of Business.

His experience serving as treasurer and board member in various positions would make him no stranger to the task.

As a city councilor, Gudman said he pushed for refinancing projects to pay for infrastructure improvements instead of raising taxes and dealt with many big decisions, while always asking questions.

It was a close call back in 2016 when Gudman lost to Read.

"The Independent candidate in 2016 was a woman by the name of Chris Telfer — very capable," said Gudman, adding that she received about 175,000 votes — 9.4% of the vote — and he lost to Read by 2.2 percentage points, or about 412,000 votes. "Chris Telfer will be supporting me in 2020."

Gudman said he's competitive, and is looking forward to running again.

He said that after reading OPB's recent coverage about out-of-state money coming into the treasurer's office, he felt Read's answers on the issue were unsatisfactory.

The OPB report found that as of early December 2019, more than 40% of campaign contributions reported by the treasurer came from large firms in places like New York City, Washington D.C. and Wilmington Delaware.

"The foundation of any fiduciary duty is trust,"Gudman said in the press release. "An eyebrow-raising amount of campaign contributions are coming from out-of-state law firms doing business with Oregon — or trying to do business with Oregon — to our current treasurer. It's fair to ask if he's looking out for our best interests — or his special interests."

Gudman said he will bring three main aspects to the table if elected: competence, integrity and vision.

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