RESOLUTION NO. RS2013-747
A resolution approving revised investment policy.
WHEREAS, Tennessee Code Annotated, Section 5-8-301 requires the county legislative body, acting by resolution duly adopted, to authorize the investment of idle funds in certain types of investments in order to provide a safe, temporary medium of investment of idle funds; and
WHEREAS, the Investment Committee, as appointed by Resolution R95-1724 and R97-891, has adopted an Investment Policy providing for the investment of idle funds, which Investment Policy was approved by R95-1724 and revised by R97-891; and
WHEREAS, the Investment Committee adopted a revised Investment Policy to include, among other things, the authorization for additional investments permitted under state law for idle funds of local governments; and
WHEREAS, it is in the best interest of the Metropolitan Government to adopt this amended Investment Policy.
NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1: The revised Investment Policy adopted by the Investment Committee at its meeting on June 18, 2013 (a copy of which is attached hereto) is hereby approved and adopted.
Section 2: This resolution shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Lonnell Matthews
|Referred to:||Budget & Finance Committee|
|Introduced:||July 2, 2013|
|Adopted:||July 2, 2013|
|Approved:||July 5, 2013|
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