(A) The actions of the City Treasurer in the performance of his or her duties under this subchapter shall be evaluated using the “prudent person” standard. Investments shall be made with the same judgment and care under the prevailing circumstances which persons of ordinary prudence, discretion, and intelligence might exercise in the management of their own financial affairs.
(B) The City Treasurer acting in accordance with this subchapter and exercising due diligence under the prudent person rule shall be relieved of personal liability for an individual investment’s performance.
(Ord. 1B-1994, passed 12-13-1994)