HomeMy WebLinkAbout151-96RESOLUTION NO. 151-96
APPROVING CHANGES TO THE TOWN OF DANVILLE
INVESTMENT POLICY
WHEREAS, the primary objective of the investment policy of the Town of Danville is to
prudently invest public funds in a manner which assures safety, liquidity and legality; and
WHEREAS, safety of public funds which are invested by the Town can be enhanced by
improving internal control procedures; updating all permitted investments and limitations
on investments including maturity types, rating of securities, and limitations upon the
percent of the portfolio which may be invested in any specific security; and
WHEREAS, the Town of Danville Investment Policy has been amended to incorporate these
refinements in formatting, terminology, diversification and internal controls; now, therefore,
be it
RESOLVED, by theDanville Town Council, that the Investment Policy be accepted as
amended and that all investment control and reporting procedures outlined in the Policy
be implemented by the Town Treasurer.
APPROVED by the Town Council of the Town of Danville at a Regular Meeting held on
November 6, 1996, by the following vote:
AYES: Greenberg,
NOES: None
ABSTAINED: None
ABSENT: None
Shimansky,
Arnerich, Doyle, Waldo
MAYOR
APPROVED AS TO FORM:
CITY ATTORNEY
ATTEST:
CITY CLERK
E: ~FINANCEI WAI. KERI~T,