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(A) The city's investment policy shall be reviewed annually and revised, as appropriate. Any amendments to this policy must be made by ordinance of the City Council.
(B) Any investment held on the date of initial adoption of this policy which does not meet the guidelines of this policy shall be exempted from its provisions. At maturity or liquidation, the monies so invested, if reinvested, shall be reinvested only in accordance with this policy. The City Clerk-Treasurer may take a reasonable period of time to adjust the existing portfolio to the provisions of this policy in order to avoid the premature liquidation of any current investment.
(Ord. 12-94-1, passed 12-19-94)