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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 2