CHAPTER 12
INVESTMENTS

ARTICLE A. INVESTMENTS EXECUTIVE ORDER

SECTION:

53-12A-1: Purpose

53-12A-2: Scope

53-12A-3: Definitions

53-12A-4: City Investments

53-12A-5: City Investment Committee

53-12A-1: PURPOSE:

The purpose of this article is to ensure that investment objectives are met when investing public funds, including safety of principal, need for liquidity, and maximum yield on investments consistent with the first two objectives.

53-12A-2: SCOPE:

   A.   Sound Management: Salt Lake City Corporation invests its available funds in accordance with principles of sound treasury management and according to the terms and conditions of the Utah State Money Management Act of 1974, as currently amended(the “Act”), and Rules of the State Money Management Council, as currently amended (see section 51-7-11 of the Act).

   B.   Investment Objectives: The following investment objectives, in order of priority, must be met when investing public funds: safety of principal, need for liquidity, and maximum yield on investments consistent with the first two objectives.

   C.   Depository: City funds must only be deposited with a qualified depository. Investment transactions must only be conducted through certified depositories, certified dealers, or directly with issuers of the investment securities. See section 51-7-1 et seq. Of the Act