(a) Effective the date of passage of this section, all investment purchased or entered into by the Village shall be strictly in conformance with the Investment Policy attached to Ordinance 1996-11-44, which is fully adopted by the Council and incorporated herein. No deviation from said Policy shall be made without prior approval of Council. To the extent the Investment Policy is not specific, applicable State law concerning municipal investments shall govern.
(b) The person(s) engaged in investing activities, namely the Finance Director, Mayor and Members of Council shall be relieved from any liability for the loss of any public monies invested pursuant to and in compliance with this Investment Policy or for failure of any depository institution.
(Ord. 1996-11-44. Passed 11-20-96.)