(A) Policy considerations.
(1) Exemption. Any investment currently held that does not meet the guidelines of this policy shall be exempted from the requirements of this policy. At maturity or liquidation, such monies shall be reinvested only as provided by this policy.
(2) Amendments. This policy shall be reviewed on an annual basis. Any changes must be approved by the Designated Officials and any other appropriate authority, as well as the individuals charged with maintaining internal controls.
(B) Approval of investment policy. The investment policy and any modifications to that policy shall be formally approved and adopted by the governing body of the City of Middletown.
(C) Miscellaneous. The following documents, as applicable, are attached to this policy. This will be city-specific and many cities will not have some of the below documents:
(1) Listing of authorized personnel;
(2) Relevant investment statutes and ordinances;
(3) Listing of authorized brokers/dealers and financial institutions;
(4) Internal controls;
(5) Investment Guidelines Manual.
(Ord. 08-08-19-B, passed 9-12-2019)