§ 2-232. Objectives and policies.

Latest version.

The basic objective in the city investment procedures and policies should be to earn the maximum amount of interest with safety on cash funds, while maintaining a reasonable working capital balance. In determining the type of investments, the earnings yield and maturity schedule should be the primary considerations with both bank certificates of deposits and United States government obligations compared for this purpose. Deposits in local banking institutions should be distributed among the various banks and savings and loan associations on an equitable basis. Deposit insurance or negotiable securities pledged to an escrow agreement are required on all such deposits pursuant to appropriate statute.

(Code 1960, § 9-3(a); Code 1981, § 2-10)

State law reference

Deposits and investments by finance director, C.R.S. § 31-20-303.

                    
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