The City's Investment Policy was last revised in July 2020. Following review of the policy, corrections and revisions were made to the policy requiring that it be adopted in its revised form. 

The revised policy primarily outlines an increase in the amount of deposits held in any financial institution or designated custodial agency to $40 million per institution. Other minor changes were made as seen fit. As staff continues to research investment options during unprecedented times, it is determined the policy needs to be updated to accommodate the interest rate market and allow us to abide by arbitrage rules and regulations.

A "redline" copy of the proposed policy is included, showing the changes recommended in the policy along with a clean, final copy of the proposed revised policy.