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CITY OF ARDEN HILLS <br /> INVESTMENT POLICY <br /> 1. Purpose <br /> to investpublic funds:l a::.ma e#"t ypaximizes return and <br /> It is the policy of the City .;;.; <.;.;;: <br /> provides maximum security in preserving and protecting f rids while meeting.the daily cash flow <br /> demands and conforming to all applicable federal, st#0.1.00/or.lOc#IStatii*C:gOOrrunelitithc <br /> investment of public funds. <br /> 2. Standards of Care <br /> A. Prudence—The standard of prudence to be used shall be.,h; `prudent person" <br /> st <br /> andard and shall be applied in the.1.0 01 . 0)-41.1pf managing o' 'all portfolio. <br /> Individuals acting in accordance with written procedures and this investment <br /> policy and exercising due dingLnce:shall` r lle ed of personal responsibility for <br /> ` . provided deviations <br /> an individual security's credits or matl� t`p� uges, <br /> from expectations are reported in a timely fashion tl1e liquidity and the sale of <br /> securities are carried our:;in accordance:w th the for s`of this policy. <br /> 1111 ...„.............. <br /> ........... <br /> The "prudent person''standard states that,4`h2u st ents shall be made with <br /> judgment and care. zn e ..circumstancesthen revailing,which persons of <br /> prudence, discretion and0telligence exercise in the management of their own <br /> affairs,not for speclto but.for investment, considering the probable safety of <br /> then cpttal as,well as the:pbahe income to be derived." <br /> B. Ethics andV:OnfigtOKInterestifitiployees involved in the investment process <br /> shall refrain from papal business activity that could conflict with the proper <br /> execution and management of the investment program, or that could impair their <br /> ability to make impartial decisions. Employees shall disclose any material <br /> interests in financial institthtions with which they conduct business. They shall <br /> <fi l er;disclose ant parson financial/investment positions that could be related to <br /> ''':441-00611.pance OfitiOiiivestment portfolio. Employees shall refrain from <br /> unde0.4(.40g0004iiiinvestment transactions with the same individual with whom <br /> businesssou€tted on behalf of the City. <br /> C. Delegation of Authority—Authority to manage the investment portfolio is granted <br /> to the City's Finance Director/Treasurer,who shall act in accordance with <br /> established procedures and internal controls for the operation of the investment <br /> portfolio consistent with this investment policy. No person may engage in an <br /> investment transaction except as provided under the terms of this policy. The <br /> • Finance Director shall be responsible for all transactions undertaken and shall <br /> 1 <br />