Title
TO AUTHORIZE THE DIRECTOR OF FINANCE TO REVIEW AND UPDATE AN INVESTMENT POLICY FOR THE CITY OF GAHANNA
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WHEREAS, the Gahanna City Council established an investment policy in December 1998; and
WHEREAS, this policy has not been reviewed or changed since December, 1998; and
WHEREAS, the investment policy statement is a direct reference guiding investments for the City and this Council recognizes it should be kept current;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That the Director of Finance shall complete a review of the City's investment policy in 2012 and it shall be reviewed, updated as necessary, and reaffirmed by Council a minimum of every five (5) years.
Section 2. That this review shall be done with the support of independent investment advisors.
Section 3. That the policy shall contain, at a minimum, Investment Objectives, Investment Guidelines, and Investment Principles.
Section 4. That this ordinance shall be in full force and effect after passage by this Council and 30 days after date of signature approval by the Mayor.