The city may place public money in investments/deposits authorized by the Utah money management act 1 . The treasurer shall ensure that all purchases and sales of securities are settled within thirty (30) days of the trade date. In general these investments can be any of the following subject to restrictions specified in the act:
A. Obligations of the U.S. treasury and most government sponsored agencies.
B. Commercial paper.
C. Bankers' acceptances.
D. Publicly traded fixed rate corporate obligations.
E. Certain variable rate securities and deposits, including floating rate corporate obligations.
F. Deposits with the state public treasurer's investment fund.
G. Certain fixed rate negotiable deposits with a certified depository.
H. Repurchase and reverse repurchase agreements are not allowed by this policy. Ogden City shall not enter into a master repurchase agreement, a repurchase agreement, or a reverse repurchase agreement. (Eff. 4-4-2016)
Notes
| 1 | 1. UCA § 51-7-11. |