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ORDINANCE N0.2011-25 <br />INTRODUCED BY: Mayor Rinker and Council as a Whole <br />AN EMERGENCY ORDINANCE <br />AMENDING THE INVESTMENT POLICY <br />OF HAYFIELD VILLAGE <br />WHEREAS, amendments are needed to the current Investment Policy of <br />Mayfield Village, adopted in 1996 (Ordinance No. 96-31). <br />WHEREAS, the Finance Director's recommendations updating the current <br />investment policy are attached hereto and incorporated herein as Exhibit "A". <br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF <br />HAYFIELD VILLAGE, OHIO, THAT: <br />SECTION 1. The Investment Policy for Mayfield Village, adopted in 1996 is <br />hereby amended as set forth in Exhibit "A" attached hereto. <br />SECTION 2. The Investment Policy, as amended and set forth in Exhibit "A" <br />hereto and incorporated herein by reference, is hereby and herein adopted. <br />SECTION 3. The Council finds and determines that all formal actions of the <br />Council relating to the adoption of this Ordinance have been taken at open <br />meetings of this Council; and that deliberations of this Council and of its <br />committees, resulting in such formal action, took place in meetings open to the <br />public in compliance with all statutory requirements including the requirements of <br />Section 121.22 of the Ohio Revised Code. <br />SECTION 4. This Ordinance is hereby declared to be an emergency <br />measure immediately necessary for the immediate preservation of the health, safety <br />and welfare of the residents of Mayfield Village for the reason that such plan was <br />necessary to encourage orderly development in Mayfield Village. It shall, <br />therefore, take effect immediately upon passage by the affirmative vote of not less <br />