HomeMy WebLinkAbout~Master - Revisions to City's Investment Policy RESOLUTION NO. 07-346
RESOLUTION APPROVING REVISIONS TO
CITY'S INVESTMENT POLICY
FOR THE CITY OF AMES
WHEREAS, the Code of Iowa requires the City Council to adopt a written investment policy,
and this policy sets guidelines for investment of City funds; and,
WHEREAS,staff periodically reviews the investment policy and submits revisions for approval;
and,
WHEREAS, changes recommended in the proposed amendments includes: clarified wording
throughout policy to comply with the Code of Iowa;merged topics of Prudence and Conflict of Interest
under new topic of Standards of Care;inserted wording in Section 8.2 to include an annual review of the
financial condition of all qualified financial institutions and broker/dealers; and, added Certificate of
Deposit Account Registry Service under authorized investments.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,that
the revisions to the City's Investment Policy are hereby approved.
ADOPTED THIS 24`h day of July, 2007.
• LY-11& A. Vim- �l�v
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Popken
Seconded by: Mahayni
Voting aye: Doll, Goodman, Larson, Mahayni, Popken, Rice
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 24'day of July, 2007.