§ 2-186. Investment policies; responsibilities.

(a)

The "Investment Policy for the City of Glendale" is hereby adopted by this reference and shall apply to all investments of funds by the City of Glendale. The "Investment Policy for the City of Glendale" may be amended only by resolution of the council of the City of Glendale.

(b)

The finance director for the city shall be responsible for the daily management of the investment of city funds. All investments shall be in accordance with the "Investment Policy for the City of Glendale."

(c)

Investments shall not exceed the maximum maturity as provided by Arizona Revised Statute Title 35 (Public Finances), Chapter 2 (Handling of Public Funds), Article 2.1 (Money Management), Section 35-323 (Investing Public Monies; Bidding; Security and Other Requirements).

(d)

The finance director shall make reports to the city council, as requested by the city council, of the results and status of the investment of city funds.

(Ord. No. 1878, § 2, 3-12-96; Ord. No. 2972, § 1, 1-12-16, effective 2-15-16)