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1 <br />BILL NO. 136-21 <br />ORDINANCE NO. ______ <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br />INDIANA, ADOPTING AN INVESTMENT POLICY FOR THE CITY OF SOUTH BEND <br />FOR CALENDAR YEAR 2022 <br />_____________________________________________________________________________ <br /> <br />STATEMENT OF PURPOSE AND INTENT <br /> <br />The Indiana legislature has enacted Indiana Code § 5-13-9 et seq., which permits the fiscal <br />officer of a city to make investments of public funds into designated investment vehicles. The <br />Common Council of the City of South Bend determined that it is in the best interest of the City to <br />authorize the full exercise of the City’s investment powers under the Indiana Code. <br /> Accordingly, on December 14, 2020, this Council enacted Ordinance No.10768-20 which <br />established an investment policy for the City of South Bend for calendar year 2021, as provided <br />under Indiana Code § 5-13-9-5.7, and it authorized the City Controller to dedicate up to the <br />maximum allowable proportion of the City’s investment portfolio to investments maturing more <br />than two years but not more than five years after purchase. Ordinance No. 10768-20 further <br />authorized the City Controller to invest in certain investment vehicles as provided under Indiana <br />Code § 5-13-9-5 and Indiana Code § 5-13-9-5.3. <br />This ordinance adopts an identical investment policy for the City of South Bend for <br />calendar year 2022 unless it is earlier amended by ordinance. <br /> <br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA as follows: <br />SECTION I. For purposes of Indiana Code § 5-13-9, the investment policy for the City <br />of South Bend first adopted on December 14, 2020 is approved for calendar year 2022, and shall <br />read as follows: <br />With the approval of the City Controller, as the investing officer for the City of <br />South Bend, the City may invest public funds in various investment vehicles, in accordance <br />with Title 5, Article 13, of the Indiana Code, as amended from time to time. The City’s <br />investment portfolio may contain any investment vehicle generally provided for under <br />Indiana Code § 5-13-9. In addition, the City Controller is granted the following specific <br />authorizations: <br />1. Pursuant to Indiana Code § 5-13-9-5.7, the City Controller is authorized to <br />make investments having a stated final maturity that is more than two (2) <br />years but not more than five (5) years after the date of purchase or entry into <br />a repurchase agreement, provided that such investments may comprise no