Reso 2024-3616 - Laserfiche WebLink

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as the probable income to be derived from the investment." The "Prudent Person" rule can be applied in the context of managing the overall portfolio. The Finance Director or designee and staff, acting in accordance with this policy and exercising due diligence, shall not be held personally responsible for a specific security's credit risk or market price changes. A. Ethics and Conflicts of Interest The City's staff involved in the investment process shall refrain from personal business activity that could conflict with the proper execution and management of the investment program, or that could impair their ability to make impartial decisions. All employees involved in the investment process shall disclose to the City any material financial interests in financial institutions that conduct business with the City, and- they shall further disclose any material personal financial/investment positions that could be related to the performance of the City's investment program. Applicable ethics standards provided by the City Charter, City Code, Section 2-11.1 of the Miami -Dade County Code, Chapter 33 of the City's Code of Ordinances, and Part III of Chapter 112, F.S., shall be complied with. C. Designation of Investment Officer The Finance Director is designated as investment officer of the City and is responsible for investment decisions and the day-to-day administration of the cash management program. No person may engage in an investment transaction except as provided under the terms of this policy and the procedures so established. The City may request the assistance of, or appoint an outside investment manager as "Agent" for the City's cash reserves. The "Agent" for the City shall have discretion over the purchase and sale of securities within and subject to compliance with this investment policy. Such investment manager must be registered under the Investment Advisor Act of 1940. Such firm will be a national firm with a local presence. The Finance Director shall consult with the City Manager as necessary regarding the City's investment activity. Positions authorized as investment signatories are the City Manager, Deputy City Manager, and Finance Director. IV. LISTING OF AUTHORIZED INVESTMENTS The following investments will be permitted by this policy as consistent with Section 218.415 (16) F.S. Those investments not listed in this section are prohibited. A. United States Government Securities Negotiable direct obligations or obligations the principal and interest of which are unconditionally guaranteed by the United States Government. Such securities will include, but not be limited to the following: ® Treasury Bills 47;