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City of South Bend Administration & Finance Policy Manual <br /> Sp�T$ <br /> � d <br /> U d <br /> x x <br /> 1865 <br /> 2.8 Investment Policy Effective: January 1, 2017 <br /> Purpose: This policy defines the cash investment policy of the City of South Bend. <br /> Scope: This statement applies to all governmental units, enterprise operations, and operations of the <br /> City of South Bend. This policy shall be in accordance with the terms and limitations of I.C. 5- <br /> 13-9, Deposit and Investment Powers, as amended from time to time. <br /> Responsibility: This policy is the responsibility of the Board of Finance of the City of South Bend. Changes or <br /> revisions to this policy are affected only with the consent and approval of the Board of <br /> Finance. <br /> Effective Date: This policy is effective upon approval and execution of the Board of Finance. The Board of <br /> Finance will review this policy on an annual basis coincident with the Annual Meeting of the <br /> Board of Finance, held after the 'I'Monday in January and before January 31St. <br /> 1.0 Policy Statement <br /> The City of South Bend, Indiana shall make all investments, in both Deposit and Investment Accounts, <br /> in accordance with the terms and limitations of IC 5-13-9, Deposit and Investment Powers, as <br /> amended from time to time. <br /> 2.0 Deposit and Investment Options <br /> Eligible deposit accounts mean any of the following: <br /> 1.Any account subject to withdrawal by negotiable orders of withdrawal, unlimited as to amount or <br /> number, and without penalty, including NOW accounts <br /> 2. Passbook savings accounts <br /> 3. Certificates of Deposit <br /> 4. Money market deposit accounts <br /> 5. Any interest-bearing account that is authorized and offered by a financial institution in the course of <br /> its respective business <br /> 3 <br />