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IKayfield Village Investment Policy <br />4.2 - Liquidrtv: Mayficld Village's investment portfolio shall be designed with the <br />objective of attaining a rate of return throughout budgetary and economic eycles, <br />c;ommensurate vtirith Mayfield Village's .investment risk constraints and the cash flow <br />characteristics of the portfolio. <br />S.0 - Delegatian of Autloritv, Authority to mana.ge Mayfield Vi11aDe's investment <br />program is derived from Chapter 133,41 of the Codifed Ordinances of the Village. <br />Management responsibility for the investrzient program is hereby delegated i:a the <br />Director of Finance as is implied in Chapter 133.01 of the Codified Ordinances. The <br />Director of Finance shall esta,blish written procedures for the operation of the investment <br />program cansisten.t with the investment policy. Prucedures should include referennes to: <br />safekeeping, PSA repurchase agreements, wire transfer a,greements, banking service <br />confiracts and collateraVdepository ageemetats. Such pracedures shall include explicit <br />delegatinn of authority 1:o persons responsible for investment transactions_ No person <br />may engage in an investment ti'ansaction except as provided under the terms of this <br />policy and procedures established by the Uirector of Finance, The Director of Finance <br />sha11 be respansible for a11 tra,nsactions undertaken and shall establish a system of <br />controls to regulate the activities of subordinttte officials. <br />6. D- Ethics ancl Conflie#s of Interest: Officers and employees involved in the <br />investment pracess shall refrain from personal business activity that cauld conflict with <br />praper executian of the investment program, or whieh could impair their ability to ma,ke <br />impartial investment decision,s. Emptayees and investment officials shall disclose to the <br />Mayor any material financial interests in financia] institutions that conduct business <br />within tihe jurisdiction, and they shall further disclose any large financiaUinvestment <br />positians that could be related to the pcrforrnance of Mayfield Village, particularly with <br />regard to the time aF purchases and sales. <br />7 D- Authvri dFinancial Denlers and Institutions: The I)irector of Finance will <br />maintain a list of finattcial institutions authorized to provide investment services. in <br />addition, a list wi11 also be ma.intained of approved security brokerldealers selected by <br />credit worthiness who are atithorized to provide investment services irt the State of dhio. <br />These may include `prinaary" dealers or regional dealers that qualify under .Securities & <br />Exchange Com»ussion Rufe 130-1 (unifurm net capitrcl rute). No public deposit shall <br />be made except in a quadifiert public depository as established by the laws of the S1ate of <br />Ohio. <br />A11 f nancial institutions and broker/dealers who desire to become qualified bidders for <br />investment transactions must supply the birector of Finance wi#h the following: audited <br />financial statements of the company for whom they work, proof of National Association <br />of SeGurity Dealers certification, trading resolution, proof of State of Ohio registration <br />and certification o£having read Ivlayfield Village's investment policy. <br />Page 3 of 6