(a) It is the policy of the Village of Crestline to invest money in:
(1) Time deposits, certificates of deposit or savings accounts which qualify as interim deposit as defined in Ohio R.C. 135.01 with eligible depositories with which this Village has valid depository contracts under Chapter 135 Revised Code.
(2) The Ohio Subdivision Trust Fund (STAR OHIO).
(3) Treasury bills, notes, bonds, agency bonds or other obligations with a maturity date of five years or less which are issued by or guaranteed as to principal and interest by the U.S. Treasury.
(b) Under the guidelines of this policy, no security will be purchased that has a remaining term to final maturity of more than five years.
(c) To maintain the portfolio's desired characteristics, swapping (the simultaneous selling of one security and buying another) will be permitted.
(d) All portfolio transactions will be performed on a competitive basis when practical. Each bid or offer will be received from three providers. Each price will be recorded and the best price selected for execution.
(e) At no time will the safety of the portfolio's principal investment be impaired or jeopardized. Safety is herein defined as the certainty of receiving full par value plus accrued interest, at the security's legal final maturity.
(f) The Fiscal Officer will provide a report of all transactions regarding investments to the finance committee on a monthly basis.
(Ord. 3000. Passed 2-27-12.)