(A) This section, in conjunction with the Ohio Revised Code, and any applicable ordinances, as amended, will govern the investment activities of the village. It will be review periodically to assure the flexibility necessary to effectively manage the portfolio.
(B) The purpose of the investment account is to allow for the maximum return on the village’s excess cash balances consistent with complete safety of the portfolio’s principal value and liquidity desired.
(C) (1) All investment activities will be undertaken by the Finance Director, or those persons assigned thereby, to engage in investment activities, utilizing all elements of prudence, judgment, and care. A current list of individuals authorized to transact securities trades will be maintained with the investment policy.
(2) The Finance Director shall establish additional procedures consistent with this investment policy with respect to safekeeping, wire transfer agreements, banking service contracts, collateral/depository agreements, and internal controls.
(D) The village will be permitted to invest in any security specifically authorized by R.C. §§ 135.14, 135.142, and 135.45, as amended. A copy of the appropriate Ohio Revised Code sections will be kept with the Investment Policy.
(E) Investments in U.S. Treasury securities and those instruments completely guaranteed by U.S. Treasury as payment of the principal and interest may be made in any dollar amount. The village should normally seek to diversify its holdings of other investments by avoiding concentrations of specific issuers.
(F) Under the guidelines of this policy, no security will be purchased that has a remaining term to final maturity of more than two years.
(Ord. 97-167, passed 11-17-1997; Ord. 99-170, passed - -1999)