HomeMy WebLinkAbout104 - 09/21/1993 - AMENDING THE CITYS CASH MANAGEMENT AND INVESTMENT POLICY ORDINANCE NO. 104, 1993
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING THE CITY'S CASH MANAGEMENT AND
INVESTMENT POLICY
WHEREAS, Article V, Section 10, of the Charter of the City of Fort Collins
states that the cash balance of the City shall be deposited or invested in
accordance with the ordinances of the City; and
WHEREAS, the types of securities in which City funds may be invested have
been established in Ordinance No. 108, 1988, as amended by Ordinance No. 90,
1993; and
WHEREAS, by Resolution 90-44, the City Council adopted, on April 17, 1990,
a Cash Management and Investment Policy ("the Policy") which establishes
guidelines and limitations to be followed by City staff in managing the
investment of City funds; and
WHEREAS, the Council believes it to be in the best interest of the City to
amend the Policy in order to reflect the additional kinds of securities which
have been approved by the Council through the adoption of Ordinance No. 90, 1993,
and so as to better manage and gain higher returns on City investments.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1. That the Cash Management and Investment Policy dated September
7, 1993, and on file in the office of the City Clerk, is hereby adopted by the
Council and shall supersede the Cash Management and Investment Policy previously
approved by the Council by the adoption of Resolution 90-44.
Section 2. That all powers of the City's Financial Officer as enumerated
in Section 3 of Resolution 90-44 are hereby ratified and affirmed.
Introduced, considered favorably on first reading, and ordered published
this 7th day of September, A.D. 1993, and to be presented for final pass n
the 21st day of September, A.D. 1993.
ATTEST: M
City Clerk
Passed and adopted on final reading thi=da ptember, 1993.
Ma Kr
ATTEST:`,y 1(1
j" udW ,ke;."
City Clerk
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