(a) As a Charter Village, authority to manage the Village's investment program is derived from the Village Charter, Ohio Revised Code Chapter 135 and related sections of Chapter 731.
(b) The Finance Director will review the cash position to determine when investments can be made.
(c) Management responsibility for the investment program is hereby delegated to the Finance Director, who shall submit written procedures for the operation of the investment program consistent with this investment policy to the Treasury Investment Board for approval.
(d) No person may engage in an investment transaction except as provided under the terms of this policy and the procedures adopted by the Treasury Investment Board.
The Finance Director shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate officials.
(e) The Treasury Investment Board will review all investments made by the Finance Director on behalf of Council. Because two members of the board are not full time officials of the Village, the Village Manager and Finance Director are authorized to initially approve investments on behalf of the Village. The Mayor and Law Director shall be informed of the investment as soon as possible.
(Ord. 1418. Passed 5-22-00.)