RESOLUTION NO. 930052

Adopting an official investment policy for the investment of the City's idle funds.

WHEREAS, pursuant to Administrative Code Section A11.1, the Investment Committee is composed of the Director of Finance, City Treasurer, and representatives of the City Manager, City Attorney and Budget Officer; and

WHEREAS, the Committee meets periodically to approve investments of the City's idle cash; and

WHEREAS, in 1992, the Committee developed an official investment policy and submitted the policy to the Municipal Treasurer's Association for certification; and

WHEREAS, on December 7, 1992, the Committee was notified that the City's policy had received the Association's Certification of Excellence Award and a commendation for enhancing the City's fiscal responsibility in the management of its funds; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

That the Investment Committee is hereby commended for its work in developing the official investment policy for receiving the Certification of Excellence Award from the Municipal Treasurer's Association and for its commitment to the preservation and enhancement of the City's fiscal responsibility; and

BE IT FURTHER RESOLVED, that the Council hereby adopts the Investment Committee's investment policy as the Official Investment Policy of the City for the investment of the City's idle funds.

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