(A) The investing officer of the county, that being the duly elected Treasurer, is hereby authorized, pursuant to I.C. 5-13-9-5, to invest in certificates of deposit of depositories that have not been designated by the local board of finance but have been designated by the State Board of Finance as a depository for state deposits under I.C. 5-13-9-5. This authorization expires one year after the adoption date.
(B) The Dearborn County Board of Commissioners also authorizes the investing officer to invest in certificates of deposit under certain conditions in accordance with I.C. 5-13-9-5.3 as follows:
(1) The funds are initially invested through a depository that is selected by the investing officer.
(2) The selected depository arranges for the deposit of the funds in certificates of deposit in one or more federally insured banks or savings and loan associations, wherever located, for the account of the county.
(3) The full amount of the principal and any accrued interest of each certificate of deposit are covered by insurance of any federal deposit insurance agency.
(4) The selected depository acts as a custodian for the county with respect to the certificates of deposit issued for its account.
(5) At the same time that the county’s funds are deposited and the certificates of deposit are issued, the selected depository receives an amount of deposits covered by insurance of any federal deposit insurance agency from customers of other institutions, wherever located, at least equal to the amount of the funds invested by the county through the selected depository.
(C) The investing officer of Dearborn County, Indiana, that being the duly elected Treasurer of Dearborn County, Indiana, is hereby authorized, pursuant to I.C. 5-13-9-5.7, to invest public funds for more than two years and not more than five years from the date of purchase or entry into a repurchase agreement under the following conditions:
(1) The investment may only be made with the approval of the investing officer of the County;
(2) The investments must be made in accordance with I.C. 5-13-9-5.7;
(3) The total investments outstanding under this resolution may not be more than 25% of the total portfolio of public funds invested by the political subdivision, including balances in transaction accounts;
(4) The investing officer may contract with a federally regulated investment advisor or other institutional money manager to make such investments; and
(5) This division (C) and the power to make an investment having a stated final maturity that is more than two years, but not more than five years, after the date of purchase expire on the date on which the investment policy expires, which may not exceed four years.
(BC Ord. 2011-004, passed 4-5-11; Am. BC Ord. 2013-011, passed 5-21-13; Am. BC Ord. 2013-012, passed 5-21-13; Am. CC Res. 2021-005, passed 9-16-21)