(A) The Morgan County Investment Policy, as attached to Ordinance 2023-13 and incorporated herein by reference, is approved and adopted by the Council.
(B) The investing officer, the Morgan County Board of Finance, and any other official(s), agent(s), employee(s), or other such person(s) as may from time to time participate in decisions concerning the investments of the county shall-be guided in such determinations and recommendations by the policy.
(C) The Council authorizes the investing officer to make investments having a stated final maturity that is more than two years, but not more than five years after the date of purchase, in accordance with I.C. 5-13-9-5.7(a) and (b). This authority expires on the same date on which the Morgan County Investment Policy expires, as stated below, and which may not be more than four years from the date this section is adopted.
(D) At the time an investment of public funds of the county is made having a stated final maturity that is more than two years, but not more than five years, the total of such investments of the county may not exceed 25% of the total portfolio of public funds invested by the county, including balances in transaction accounts.
(E) The investing officer may contract with a federally regulated investment advisor or other institutional money manager to make such investments.
(F) This section shall remain in effect in all respects, unless subsequent authority invalidates any part or provision herein, or if the Council adopts an ordinance to repeal, replace, or amend this section, or at such time as this section expires, which shall be May 3, 2027.
(Ord. 2023-13, passed 5-3-2023)