Section
32.01 Policy
32.02 Scope
32.03 Prudence
32.04 Objective
32.05 Delegation of authority
32.06 Ethics and conflicts of interest
32.07 Authorized financial dealers and institutions
32.08 Authorized investments
32.09 Collateralization
32.10 Safekeeping and custody
32.11 Diversification
32.12 Maximum maturities
32.13 Internal controls
32.14 Performance standards
32.15 Reporting
32.16 Savings clause
32.17 Investment policy adoption
It is the policy of the village to invest public funds in a manner which will provide the highest investment return with the maximum security while meeting the daily cash flow demands of the entity and conforming to all state and local statutes governing the investment of public funds.
(Ord. passed - -1999)
(A) Investments shall be made with judgement and care, under circumstances then prevailing, that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived.
(B) The standard of prudence to be used by investment officials shall be the “prudent person” standard and shall be applied in the context of managing an overall portfolio. Investment officers acting in accordance with written procedures and the investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security’s credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and appropriate action is taken to control adverse developments.
(Ord. passed - -1999)
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