HomeMy WebLinkAbout172-97RESOLUTION NO. 172-97
APPROVING 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 reviewed by the Town's Treasurer
and independent investment advisor, and no further changes are recommended to the Policy at
this time; now, therefore, be it
RESOLVED, by the Danville Town Council, that the Investment Policy be accepted and that all
investment control and reporting procedures outlined in the Policy be implemented by the Town
Treasurer; and, be it further
RESOLVED, that the Finance Director be reappointed as Town Treasurer, and be delegated the
responsibility and authority to protect, preserve and maintain cash and investments.
APPROVED by the Danville Town Council at a regular meeting held on November 18, 1997,
by the following vote:
AYES: Doyle, ' Waldo,
NOES: None
ABSTAINED: None
ABSENT: None
Arnerich,
Greenberg, Shimansky
MAYOR
/r~..~7~d,¢~__...PROVED AS TO FORM:
CITY ATTORNEY
ATTEST: ~
CITY CLERK