Legislation Details

File #: 13-5097    Version: 1 Name:
Type: Resolution Status: Passed
File created: 9/26/2013 In control: City Council Regular Meeting
On agenda: 10/28/2013 Final action:
Title: REVISIONS TO THE CITY OF GOODYEAR INVESTMENT POLICY RECOMMENDATION: ADOPT RESOLUTION 13-1576 ADOPTING REVISIONS TO THE CITY OF GOODYEAR INVESTMENT POLICY. PURPOSE: The proposed revisions include additions to the authorized investments, allowing commercial paper of prime quality and bonds, debentures, and notes issued by corporations as permitted by Arizona Revised Statutes ?35-323A. These revisions will better diversify the City's investment portfolio and increase potential earnings. (Larry Lange, Finance Director)
Attachments: 1. Staff Report, 2. Resolution, 3. Revised Investment Policy
TITLE
REVISIONS TO THE CITY OF GOODYEAR INVESTMENT POLICY
RECOMMENDATION:
ADOPT RESOLUTION 13-1576 ADOPTING REVISIONS TO THE CITY OF GOODYEAR INVESTMENT POLICY.
 
PURPOSE:
The proposed revisions include additions to the authorized investments, allowing commercial paper of prime quality and bonds, debentures, and notes issued by corporations as permitted by Arizona Revised Statutes §35-323A. These revisions will better diversify the City's investment portfolio and increase potential earnings. (Larry Lange, Finance Director)