HomeMy WebLinkAbout~Master - Investment Policy for City of Ames RESOLUTION NO. 01-489
RESOLUTION ADOPTING INVESTMENT POLICY
FOR THE CITY OF AMES,IOWA
WHEREAS,the Code of Iowa,Section 12B.1 OB requires the City Council to adopt a written
investment policy; and,
WHEREAS,City staff periodically reviews the investment policy and submits revisions for
approval, and the current policy was last revised in April 1998; and,
WHEREAS, as part of the current review,a draft of the revised policy was forwarded to the
Municipal Treasurers'Association(MTA)for review and certification,and recommendations from
this review have been included in the revised investment policy; and,
WHEREAS, revisions to the investment policy make the following summarizations: The
procedures section was removed from the policy document; a section on reporting was added; a
section covering broker/dealer qualifications was added;a section was added on conflict of interest;
pooling of investments;a section covering master re-purchase agreements was added;and,a section
was added covering suitability of investments; and,
WHEREAS, the MTA Investment Policy Review Team has certified the revised City of
Ames Investment Policy; and,
WHEREAS, the MTA's Investment Policy Certification Program provides guidance and
assistance in developing or improving investment policies in the public sector.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the revised City of Ames Investment Policy is hereby adopted.
ADOPTED THIS 23rd day of October, 2001.
Diane R.Voss,City Clerk Ted Tedesco,Mayor
Introduced by: Hoffman
Seconded by: Goodhue
Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 23rd day of October, 2001.