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to the financial requirements of the entity; <br />(2) preservation and safety of principal; <br />(3) liquidity; <br />(4) marketability of the investment if the need arises <br />to liquidate the investment before maturity; <br />(5) diversification of the investment portfolio; and <br />(6) yield. <br />(e) The governing body of an investing entity shall review <br />its investment policy and investment strategies not less than <br />annually. The governing body shall adopt a written instrument by <br />rule, order, ordinance, or resolution stating that it has reviewed <br />the investment policy and investment strategies and that the <br />written instrument so adopted shall record any changes made to <br />either the investment policy or investment strategies. <br />(f) Each investing entity shall designate, by rule, order, <br />ordinance, or resolution, as appropriate, one or more officers or <br />employees of the state agency, local government, or investment pool <br />as investment officer to be responsible for the investment of its <br />funds consistent with the investment policy adopted by the entity. <br />If the governing body of an investing entity has contracted with <br />another investing entity to invest its funds, the investment <br />officer of the other investing entity is considered to be the <br />investment officer of the first investing entity for purposes of <br />this chapter. Authority granted to a person to invest an entity's <br />Page -8 - <br />