To the extent possible, the village shall attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the village will not directly invest in securities maturing more than two years from the date of purchase. Reserve funds may be invested in securities exceeding two years if the maturities of such investments are made to coincide as nearly as practicable with the expected use of the funds. All security transactions entered into by the village shall be evidenced by safekeeping receipts and written transaction confirmations.
(Ord. 656, passed 11-9-99)