(A) The Investment Committee shall be created consisting of the Finance Director, the Assistant Finance Director, the Investment Accountant, a certified financial planner not associated with the city, the City Administrator and the Chairperson of the Finance and Personnel Committee of the City Council. Members of the Investment Committee shall meet at least quarterly to determine general strategies and monitor results. The Investment Committee shall include in its discussions, topics such as economic outlook, portfolio diversification and maturity structure, potential risks to the city’s funds, authorized depositories, brokers and dealers and rate of return on the portfolio of investments.
(B) (1) Written investment procedures must be approved by the Investment Committee. The Investment Committee shall provide for the immediate release of meeting minutes, which shall be disseminated to the City Council along with the Finance Director’s quarterly report.
(2) Any two members of the Committee may call for a special meeting. The Committee shall establish its own rules of procedure. The Committee shall perform other duties as may be assigned to it by this policy or upon motion of the City Council.
(2002 Code, § 2.82) (Ord. 3, Fifth Series, passed 3-18-1996)