(A) The town's investments must have a slated final maturity of not more than two years pursuant to I.C. 5-13-9-5.6. Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds such as local government investment pools, money market funds, or overnight repurchase agreements to ensure that appropriate liquidity is maintained to meet ongoing obligations.
(B) The town, pursuant to I.C. 5-13-9-5.7, authorizes its Investing Officer to make investments having a stated final maturity that is more than two years but not more than five years after the date of purchase. The total investments of the town with maturities of two to five years outstanding at the time of purchase may not exceed 25% of the total portfolio of public funds invested, including balances in transaction accounts.
(Ord. 2023-49, passed 12-18-2023; Ord. 2024-13, passed 5-20-2024)