§ 5.10.010. Scope.

Latest version.

A.

This chapter applies to the investment of all borough moneys, unless otherwise provided expressly by ordinance.

B.

Sections 5.10.040 through 5.10.120 apply to all fund types except the Land Trust Investment Fund.

C.

Objectives. The borough investment portfolio shall be managed so that the portfolio, as a whole, meets the objectives set forth below. All persons selecting investments for borough moneys shall adhere to these objectives, which are listed in order of relative importance.

1.

Safety of principal;

2.

Maintaining sufficient liquidity to meet the borough's cash flow requirements; and

3.

Achieving a reasonable market rate of return.

Notwithstanding the above objectives, no person shall invest borough moneys in a manner which violates any provision of this chapter or the administrative procedures established hereunder.

(Ord. No. 2018-29 , § 1, 9-4-18; Ord. No. 89-7, § 1(part), 1989)

                    
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