(A) The purpose of this Municipal Order is to establish specific investment policy and strategy guidelines for the City of Independence, Kentucky ("City") to achieve the goals of safety, liquidity, and yield for all investment activities. The city shall review its investment strategies and policy not less than annually. This policy serves to satisfy the statutory requirement, specifically KRS 66.480 Investment of Public Funds, to define, adopt and review a formal investment strategy and policy. All available funds shall be invested in conformance with these legal and administrative guidelines.
(B) Effective cash management is recognized as essential to good fiscal management. The city's portfolio shall be designed and managed in a manner responsive to the public trust and consistent with state and Federal law.
(Municipal Order 2018-MO-03, passed 11-12-18)