[R.O. 2010 §135.050; Ord. No. 22-89 §1, 12-4-1989]
The City of Glendale hereby establishes the following investment policy to apply to all financial assets of the City not necessary for the operating expenses of the City. Any and all funds currently existing or anticipated are included unless specifically excluded by the Board of Aldermen or set aside in a special escrow account.
[R.O. 2010 §135.060; Ord. No. 22-89 §2, 12-4-1989]
A. 
Safety of principal is the foremost objective of the Board of Aldermen. Each investment transaction shall seek first to ensure that capital losses are avoided, whether from securities defaults or erosion of market value.
B. 
Investment officials shall avoid any transaction that might impair public trust. As public trust is an important ingredient in the investment policy, all participants in the investment process shall seek to act responsibly as custodians of the public trust by eliminating all speculation.
C. 
All investments shall be made with judgment and care under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation but for investment, considering the probable income to be derived.
[R.O. 2010 §135.070; Ord. No. 22-89 §3, 12-4-1989]
The City Administrator shall submit a monthly investment report summarizing recent market conditions and their effect on the Board's strategy. The report shall describe the portfolio in terms of investment securities, maturities, rates, characteristics and other features.
[R.O. 2010 §135.080; Ord. No. 22-89 §4, 12-4-1989]
A. 
Funds of the City shall be invested in:
1. 
U.S. Treasury Bills, Notes and Bonds.
2. 
Federal Farm Credit Bank Discount Notes and Coupon Securities.
3. 
Federal Home loan Bank Discount Notes and Coupon Securities.
4. 
Federal National Mortgage Association Discount Notes and Coupon Securities.
5. 
Federal Home Loan Mortgage Association Discount Notes and Coupon Securities.
6. 
Government National Mortgage Association Pools and Securities.
7. 
Student Loan Marketing Association Discount Notes.
8. 
Small Business Association Securities.
9. 
Zero Coupon Government Securities.
10. 
Certificates of Deposit.
11. 
Short Term Interest Bearing Accounts.
[R.O. 2010 §135.090; Ord. No. 22-89 §5, 12-4-1989]
A. 
Investments shall be made to ensure the availability of funds on a timely and adequate basis for payments of general expenditures and capital outlay projects, both short and long term, in an expeditious manner.
B. 
Care shall be taken to maintain seventy-five percent (75%) of the City's cash reserves in short-term investments of less than two (2) year maturities. Long-term investments of two (2) to five (5) year maturities shall be limited to a maximum of twenty-five percent (25%) of the City's investments.
C. 
At no time shall the City invest funds with a maturity date of over five (5) years without the approval of the Board of Aldermen prior to commitment of such funds.