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-5- <br />Tlie Director of Finance shall participate in any beginning and/or continuing <br />education training programs sponsored by the State Treasurer or the State Auditor in which the <br />Director of Finance is required to participate pursuant to Sections 117.44 and 135.22 of the <br />Revised Code. Through participation in those programs, the Director of Finance is to develop <br />and maintain an enhanced background and working knowledge in investment, cash management, <br />and ethics. <br />Ethics and Conflict of Interest <br />The City officials and employees involved in the investment process shall refrain <br />from personal business activity that could conflict with proper execution of the investment <br />program, or which could impair their ability to make impartial investment decisions. Those City <br />officials and employees, and investment consultants to the City, shall: (i) disclose to the City's <br />Director of Law any material financial interests in financial institutions that conduct business <br />within the City and any large personal financial or investment positions that could be related to, <br />or affected by, the performance of the City's portfolio, and (ii) subordinate their personal <br />investment transactions to those of the City, particularly with regard to the timing of purchases <br />and sales. <br />The above supplements the applicable provisions of Ohio ethics laws. <br />Non-Binding Arbitration <br />The Director of Finance may enter into a written investment or deposit agreement <br />that includes a provision under which the parties agree to submit to nonbinding arbitration (but <br />not binding arbitration) to settle any controversy that may arise out of that agreement so long <br />as such provision meets the requirements of the Revised Code and is specifically approved by <br />the Council. <br />Investment Policy Adoption and Revision <br />This Investment Policy, adopted by the Council, shall be filed in the office of the <br />Auditor of State. This Policy shall be reviewed on an annual basis by the Council or a <br />committee designated by it. Any modifications of this Policy must be approved by the Council <br />and, upon approval, filed in the office of the Auditor of State. <br />Adopted: , 1996