Pursuant to IC 5-13-9-5.7, the Common Council of the city hereby authorizes the investing officer to make investments having a stated final maturity that is more than two years, but not more than five years after the date of purchase under the following circumstances:
(A) The fiscal body of the city shall first adopt an investment policy allowing for the adoption of an ordinance authorizing the investment of public funds of the city for more than two years and not more than five years in accordance with IC 5-13-9-5.7(a) and (b).
(B) This subchapter 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.
(C) At the time of investment of public funds of the city is made having a stated final maturity that is more than two years, but not more than five years, the total of such investments of the city may not exceed 25% of the total portfolio of public funds invested by the city, including balances in transaction accounts.
(D) An investing officer may contract with a federally regulated investment advisor or other institutional money manager to make such investments.
(Ord. 2019-16, passed 7-1-19)