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City of Mounds View Investment Policy <br /> • The purpose of this investment policy isguide the p y City Council and officials of the City in the <br /> conduct of the investment program so as to obtain a reasonable rate of return on the investments <br /> while minimizing risk and maintaining the public's trust. The Treasurer shall seek to act <br /> responsibly as a custodian of the public trust and shall avoid any transaction that might impair <br /> public confidence in the City,the City Council, or the Administration. <br /> I. Governing Authority <br /> Legality <br /> The investment program shall be operated in conformance with federal, state, and other legal <br /> requirements, including Minnesota Statutes Chapter 118A. <br /> II. Scope <br /> This policy applies to the investment of all funds. <br /> 1. Pooling of Funds <br /> Except for cash in certain restricted and special funds,the City will consolidate cash and <br /> reserve balances from all funds to maximize investment earnings and to increase efficiencies <br /> with regard to investment pricing, safekeeping and administration. Investment income will <br /> be allocated to the various funds based on their respective participation and in accordance <br /> with generally accepted accounting principles. <br /> 2. Personnel <br /> The personnel authorized to conduct banking and investment transactions on behalf of the <br /> City shall be named in the Annual Resolution Appointing Official Newspaper, Acting <br /> Mayor, Official Depository, and Treasurer. Within this policy, use of the title Finance <br /> Director shall mean the person appointed to that position by the City Council. The use of the <br /> title Treasurer shall mean any of the persons named in the Annual Resolution Appointing <br /> Official Newspaper, Acting Mayor, Official Depository, and Treasurer as being authorized <br /> to conduct banking and investment transactions on behalf of the City. Duties of the <br /> Treasurer will predominantly be carried out by the Finance Director,but may be carried out <br /> by any of the other named persons in the Finance Director's absence. Treasurer shall mean <br /> any person carrying out the duties of the Treasurer. <br /> III. General Objectives <br /> The primary objectives, in priority order, of investment activities shall be safety, liquidity, and <br /> yield: <br /> • <br />