(A) Public funds of the town may be invested, by the town’s Investing Officer, in accordance with I.C. 5-13-9, in investments with a stated final maturity date of more than two years, and not more than five years, after the date of purchase or entry into a repurchase agreement.
(B) The Investing Officer for the town shall be the town’s Clerk-Treasurer.
(C) The total of outstanding investments authorized by this section and I.C. 5-13-9-5.7 shall not exceed 25% of the total portfolio of public funds invested by the town, including balances in transaction account.
(D)
The investment policy adopted herein shall be effective as of September 5, 2016 and shall expire on September 4, 2020.
(E) The town’s Investing Officer is authorized to contract with a federally regulated investment advisor or other institutional money manager to make investments under this section.
(Ord. 2016-17, passed 10-18-2016)