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<br />;- <br /> <br />~ 2256.005 <br /> <br />GOVERNl'.-IEi'-l'T CODE <br />Title 10 <br /> <br />" <br /> <br />(l) be wrinen; <br />(2) primarily emphasize safety of principal and liquidity; <br /> <br />(3) address investment diversification, yield, and maturity and the quality <br />and capability of investment management; and <br />(4) include: <br />(M a list of the types of authorized investments L'l which ~e investing <br />entity's funds mav be invested; <br />(B) the ma"'Cim~~ allowable stated maturity of any individual investment <br />owned by the entity; <br />(C) for pooled fund groups, the maximum dollar-weighted average matu- <br />rity allowed based on the stated maturity date for the portfolio; <br />(D) methods to monitor the market price of investments acquired with <br />public funds; and <br />(E) a requirement for senJement of all transactions, except. investment <br />pool funds and mutual funds, on a delivery versus payment basis. <br /> <br />(c) The invesnnem policies may provi~e that bids for certificates of deposit <br />be solicited: <br /> <br />(1) orallv; <br />(') . . . <br />- In wnun~; <br />(3) electronically; or <br />(4) in anv combination of those methods. <br /> <br />(d) As an integral pan: of an investment policy, the governing body shall <br />adopt a separate wrinen investment strategy for each of the funds or group of <br />funds under its control. Each investmenr.strateSlv must describe the invest- <br />ment objectives for the particular fund using the f~ijowing priorities in order of <br />imponance: <br />(1) understanding of the suitability of .the investment to the financial. <br />requirements of the entity; <br /> <br />(2) preservation and safety of principal; <br />(3) liquidity: <br />(4) marketability of the investment if the need arises to liquidate the <br />investment before maturity; <br />(5) diversification of the investment portfolio; and <br />(6) yield. <br /> <br />(e) The !1:overnin!1: bodv of an investin!1: entity shall review its investment <br />policyand-investm~nt sO:ategies not less than ~'lually. The governing body <br />shall adopt a wrinen instrUment by rule, order, ordinance, or resolution stating <br />that it has reviewed the investment policy and investment strategies and that <br />the wrinen instrument so adopted shall record any changes made to either. the <br />investment policy or investment strategies. <br /> <br />(f) E:lch investing entity shall designate, by rule, .0rdeI:Jlrdinance. or resolu- <br />tion. as appropriate. one or more officers or employees of the state agency, <br /> <br />J <br /> <br />. ~..- <br /> <br />. --J- <br />