As an incident to the enactment of this subchapter, the County Council has made the following legislative findings. The establishment of a comprehensive policy for the investment of funds held by the county treasurer for investment will promote the efficient administration and prudent investment of funds held by the county treasurer for investment, assist the county treasurer in defining the scope of permitted investments, establish investment procedures and objectives, define authorized and suitable investments, establish standards for authorized investments, establish standards for financial dealers and institutions receiving public funds under the control of the county treasurer for investment, assure the safekeeping, custody and collateralization of county and other public funds held by the county treasurer, establish reporting standards relating to county investments, establish standards of ethics and aid in preventing conflicts of interest in county financial affairs, all of which serves the public interest. This subchapter is intended to establish policies, standards, rules and regulations for the investment of funds held by the county treasurer.
(‘77 Code, § 8-81) (Ord. 1592, passed 3-16-92)