(a) Investment of the Public Moneys of the Village shall be made only in Eligible Investments, and such Eligible Investments shall be purchased or entered into only through Eligible Institutions or Eligible Dealers. Payment for Eligible Investments shall be made only upon the delivery of securities representing such Investments.
(b) Eligible Investments in the Investment Portfolio shall be diversified to avoid incurring unreasonable risks inherent in over-investing (1) in specific investment securities or maturities and (2) with individual Eligible Institutions or Eligible Dealers. The Investment Portfolio shall remain sufficiently liquid to enable the Village to meet its operating requirements that might reasonably be anticipated.
(Ord. 2006-11. Passed 4-5-06.)