(A) All investments shall be made by way of depositories or investment agencies approved by prior ordinance or resolution to receive village deposits.
(B) No investment shall be made wherein the funds invested will be unavailable for a period of time in excess of one year.
(C) All investments shall be limited to those investments authorized for municipal corporations by R.C. Chapter 135 and R.C. Chapter 731.
(D) The Fiscal Officer shall monitor the investment balances to assure that adequate funds are available for withdrawal to meet the ongoing financial needs of the village.
(E) All funds shall be invested to obtain a maximum rate of interest which is available while considering risk and all other criteria of the investment policy herein set forth.
(F) The Fiscal Officer may transfer funds from one depository to another to secure a higher rate of interest and return.
(G) The Fiscal Officer shall maintain an investment record and shall list all investments made during the fiscal year, the return generated on each investment, and the location of the depository where the investment has been made.
(H) Village Council, and any sub-committee thereto, and the Mayor, shall have the right at any time to request production and inspection of the investment record or to inquire as to the investment activities of the Fiscal Officer.
(I) That local depositories may be approved by separate resolution with written agreement with the village.
(Ord. 96-31, passed 12-9-1996; Ord. 00-08, passed 4-10-2000)