Authority to manage the investment program is granted to the Finance Director, hereinafter referred to as investment officer and derived from Article VI, Section 6.4 of the Charter of the City of Moraine. Responsibility for the operation of the investment program is hereby delegated to the investment officer, who shall act in accordance with established written procedures and internal controls for the operation of the investment program consistent with this investment policy. Procedures should include references to: safekeeping, delivery vs. payment, investment accounting, repurchase agreements, wire transfer agreements, and collateral/depository agreements. No person can engage in an investment transaction except as provided under the terms of this policy and the procedures established by the investment officer. The investment officer shall be responsible for all transaction undertaken and shall establish a system of controls to regulate the activities of subordinate officials.
(Ord. 1776-10. Passed 9-23-10.)
(Ord. 1776-10. Passed 9-23-10.)