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•I <br /> as the reasone lsyuse of their cost eetimeti' ainw <br /> recommend Council authorise the rsoewal of t sit <br /> • <br /> contract for 19$4. <br /> Mayor Faunas coved and scarpolla seconded to ' <br /> approve the Ingagement Letter with Booth • Co. for <br /> the City's 1914 Audit. Motion versed 7-0. <br /> RMBOLOTIOM 421 - CITY'S IW1$$TMinT <br /> FOLICISB Williamson read in its entirety M.olutioa 421. "A <br /> issolutioa aseadiag tbs Investment rinsaalai <br /> Policies for the City of Louisville.° <br /> Asti-Ca,ra5Cf explained that the Cltp L • • <br /> ��� .is investing, its oil '' <br /> �, eat. iaeap�Mt � �ce.��,�- ,� ` . �. <br /> �s 11. <br /> • . *10O.0 . sad 2) t►bi, rest rictio�t is • �_• <br /> thrt unit* the -City to inert is Csnttficrt* • <br /> Deposits only. <br /> The current policy of the City requiter that <br /> banking of $100,000 tcs oollaterelisr all amounts is <br /> excess by government securities. Some <br /> basks have bd to pledge a min of gov.raasat <br /> securities and mortgages. The oonoera is tbs. . <br /> exposure posure of the gsosral and utility. <br /> funds, i.4.. payroll or socousts payable oodld as <br /> held up while the City liquidated mortgagee. The <br /> main concern with the City's current policy is <br /> dealing with the amounts is nooses of $100,000. <br /> Is accordance with the Colorado State Statutes. <br /> this Sesolutios will allow the City to invest is <br /> other instalments Weider C.D.'s. roe large suer <br /> of money it is extremely time co*sumiaq sad <br /> cu.bersome to deal with **perste institutions <br /> limiting the City investments to $100.000 C.D. 's. <br /> Buying government s4cUXities such es Aepurchaes <br /> Agreements, T-Sills. 1-10otes. T-Scieda, etc.. would <br /> not only be easier, but more secure and efficient <br /> than interest-bearing deposits. <br /> $syraaaki pointed out that the Finance Committee <br /> did also review this proposal and keeping with the <br /> City's policy of wanagio investment 'money. <br /> looking at safety, liquidity city and yield, the <br /> Committee Celt that this is an appropriate change <br /> to sake in the City's investment policy as it <br /> enhances the City's ability to invest the City's <br /> mow more prudently. <br /> Mayor lawns moved and Sackett seoorded to <br /> I..Qlutios $21, Series MS. The motion pa.eM <br /> 0. <br /> 10 <br />