Laserfiche WebLink
Return on Investment: The Village's investment portfolio shall be designed with the <br />objective of attaining a market rate of return throughout budgetary and economic cycles, <br />taking into account this Investment Policy and the cash flow characteristics of the portfolio. <br />To the extent possible, the Village will attempt to match its investments with anticipated cash <br />flow requirements. <br />Delegation of Authority and Responsibilities <br />The Village may engage the services of an investment advisor to assist in the management <br />of the Village's investment portfolio in a manner consistent with the Village's objectives Such <br />investment advisor may be granted discretion to purchase and sell investment securities in <br />accordance with this investment policy. The investment advisor must be licensed by the <br />division of securities under section 1707.141 of the Revised Code or registered with the <br />Securities & Exchange Commission, and possess experience in public funds investment <br />management specifically in the area of state and local government investment portfolios or <br />the investment advisor is an eligible institution as mentioned in section 135.03 of the Revised <br />Code. <br />Ethics and Conflict of Interest <br />Persons involved in the investment process shall refrain from personal business activity that <br />could conflict with proper execution of the investment program, or which could impair their <br />CW ability to make impartial investment decisions. All employees, officers and investment <br />management consultants to the Village shall subordinate their personal investment <br />transactions to those of the Village, particularly with regard to the timing of purchases and <br />sales. <br />Authorized Financial Dealers and Institutions <br />The Director of Finance will maintain a list of financial institutions and approved security <br />broker dealers who are authorized to provide investment services and which qualify under <br />Section 135.14(M)(1) of the Revised Code. <br />All financial institutions, broker dealers and consultants which desire to conduct investment <br />business with the Village must sign the Investment Policy, certifying they have read it, <br />understand it and agree to abide by its contents. <br />Authorized Investments <br />The Village is empowered by statute to invest in the following types of securities as listed in <br />section 135 of the Revised Code as amended: <br />A <br />