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• , '. ? ? ?+, <br />.., . ? <br />-4- <br />2. Make any investment in "derivatives" as defined in <br />Section 135.14(C) of the Revised Code. <br />3. Invest in a fund established by another public body for the <br />purpose of investing public money of other subdivisions <br />except either: (1) STAROhio, or (b) a fund created solely <br />from the purpose of acquiring, constructing, owning, <br />leasing or operating municipal utilities as authorized <br />under Section 715.02 of the Revised Code or Section 4 of <br />Article XVIII of the Ohio Constitution. <br />4. Enter into reverse repurchase agreements. <br />5. Leverage current investments as collateral to purchase <br />other assets. <br />6. Invest in stripped principal or interest obligations of <br />otherwise eligible obligations. <br />Internal Controls <br />The Director of Finance shall develop and maintain procedures for the operation of <br />the City's investment program in accordance with this Investment Policy. These procedures <br />shall be designed to prevent loss of the City's funds due to fraud, enor, misrepresentation, <br />unanticipated market changes or imprudent actions. <br />Records and Reporting <br />The Director of Finance shall maintain a current inventory of all investments <br />including: • Description of each security <br />• Cost <br />• Par value <br />• Dates (beginning, settlement and maturity) <br />• Rates <br />• Seller <br />The Director of Finance shall also prepare and distribute to Council quarterly (or more <br />frequently if requested by the Council) a list of all investments and a report on investment <br />activity and returns.