In addition to any other prohibitions in the Revised Code, the city will not take any of the following actions.
(a) Contract to sell securities that have not yet been acquired on the speculation that prices will decline.
(b) Make any investment in “derivatives” as defined in R.C. § 135.14(C).
(c) Invest in a fund established by another public body for the purpose of investing public money of other subdivisions except either:
(1) STAROhio; or
(2) A fund created solely from the purpose of acquiring, constructing, owning, leasing, or operating municipal utilities as authorized under R.C. § 715.02 or Section 4 of Article XVIII of the Ohio Constitution.
(d) Enter into reverse repurchase agreements.
(e) Leverage current investments as collateral to purchase other assets.
(f) Invest in stripped principal or interest obligations of otherwise eligible obligations.
(Ord. 16-2016, passed 7-18-2016)