Laserfiche WebLink
<br /> RESOLUTION NO. 14 <br /> SERIES 1986 <br /> A RESOLUTION AMENDING FINANCIAL POLICIES <br /> FOR THE CITY OF LOUISVILLE <br />WHEREAS, the City adopted Financial Policies for the City of <br />Louisville by Resolution #19, Series 1984; and <br />WHEREAS, the need exists to clarify and amend Investment <br />Policies #38 and 40 for the City of Louisville; and <br />WHEREAS, this resolution will effect investments after Jan- <br />uary 30, 1986. <br />NOW, THEREFORE, THE COUNCIL OF THE CITY OF LOUISVILLE, COLORADO, <br />HEREBY RESOLVES, that the City of Louisville Financial Policies <br />#38 and 40 shall be amended and, adopted as follows: <br /> POLICY 38 <br /> As permitted by law, the City of Louisville will make use <br /> of pooled cash to invest under the prudent investor rule. <br /> The criteria for selecting investments and their order <br /> of priority are 1) safety, 2 ) liquidity, and 3 ) yield. <br /> City investments will be directed to Certificates of Dep- <br /> osits insured by the FDIC and FSLIC. Amounts in excess <br /> of $100,000 not insured by the above entities will be <br /> coll ateral i zed by government obligations. <br /> POLICY 40 <br /> In pursuing investments opportunities the City will invest the <br /> maximum amount of dollars available with Louisville financial <br /> institutions providing; 1) their rates are within competive <br /> ranges as determined by the Director of Finance, and 2) they <br /> are in compliance with Policy 38. <br />ADOPTED THIS 21st DAY OF JANUARY, 1986. <br /> ;f~~~ <br /> M Y <br />