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344 <br />y 2256.005 — GOVERN1rMNIT CODE <br />Title 10 <br />(1) be written; <br />(2) primarily emphasize safety of principal and liquidity; <br />(3) address investment diversification, yield, and maturity and the quality <br />and capability of investment management; and <br />(4) include: <br />(A) a list. of the types of authorized investments in which the investing <br />entity's funds may be invested; <br />(B) the maximum allowable stated maturity of anv 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 settlement of all transactions, except-investment <br />pool funds and mutual funds, on a delivery versus payment basis. <br />(c) The investment policies may provide that bids for certificates of deposit <br />be solicited: <br />(1) orally, <br />(2) in wr ltln sy; <br />(3) electronically; or <br />(4) in any combination of those methods. <br />(d) As an integral part of an investment policv, the governing body shall <br />adopt a separate written investment strategy_ for each of the funds or group of <br />funds under its control. Each investment strategy must describe the invest- <br />ment objectives for the particular fund using the following priorities in order of <br />importance: <br />(1) understanding of the suitabiliry of -the investment to the financial . <br />requirements of the entity; <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 />(e) The. governing body of an investing entity shall re-Zew its investment <br />policy .and investment strategies not-less than annually. • The governing body ; <br />shall adopt a written instrument by rule, order, ordinance, or resolution stating <br />that it has reviewed the investment policy and investment strategies and that <br />the written instrument so adopted shall record any changes made to either. the <br />investment policy or investment strategies. <br />(f) Each investing entity shall designate, by rule. �order rdinance. or resolu- .._4 <br />don. as appropriate, one or more officers or enmpl'ovees of the state agency, - <br />