04-25 Adopting an Investment Policy for the City of South Bend for Calendar Year 2025 Through 2028

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Filed in Clerk's Office A'V OS BILL NO. 04-25 Bianca Tirado City Clerk, South Bend, IN ORDINANCE NO. AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA,ADOPTING AN INVESTMENT POLICY FOR THE CITY OF SOUTH BEND FOR CALENDAR YEAR 2025 THROUGH 2028 STATEMENT OF PURPOSE AND INTENT The Indiana legislature has enacted Indiana Code § 5-13-9 et seq., which permits the fiscal officer of a city to make investments of public funds into designated investment vehicles. The Common Council of the City of South Bend determined that it is in the best interest of the City to authorize the full exercise of the City's investment powers under the Indiana Code. Accordingly,on December 14,2020,this Council enacted Ordinance No.10768-20 which established an investment policy for the City of South Bend for calendar year 2021, as provided under Indiana Code § 5-13-9-5.7, and it authorized the City Controller to dedicate up to the maximum allowable proportion of the City's investment portfolio to investments maturing more than two years but not more than five years after purchase. Ordinance No. 10768-20 further authorized the City Controller to invest in certain investment vehicles as provided under Indiana Code § 5-13-9-5 and Indiana Code § 5-13-9-5.3. On December 13, 2021, this Council enacted Ordinance No. 10832-21,which adopted an identical investment policy for the City of South Bend for calendar year 2022. On December 12, 2022, this Council enacted Ordinance No. 10909-22, which adopted an identical investment policy for the City of South Bend for calendar year 2023. On December 11,2023,this Council enacted Ordinance No. 10993-23,which adopted an identical investment policy for the City of South Bend for calendar year 2024. This ordinance adopts an identical investment policy for the City of South Bend for calendar year 2025 unless it is earlier amended by ordinance. As provided for in I.C. 5-13-9-5.7, the investment policy may be established by ordinance for a period of up to four (4) years. Authorization under I.C. 5-13-9-5 and I.C. 5-13-9-5.3 may be granted by the Common Council by resolution, so it is the City's intent to adopt future resolutions in 2026 onward to establish those components of the investment policy and establish the investment policy by ordinance for a four- year period as authorized by state law. NOW,THEREFORE,BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follows: SECTION I. For purposes of Indiana Code § 5-13-9, the investment policy for the City of South Bend first adopted on December 14, 2020 is approved for calendar year 2025, and shall read as follows: With the approval of the City Controller, as the investing officer for the City of 1