5158-26 Resolution Adopting an Investment Policy for the City of South Bend for Calendar Year 2026

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BILL NO. 26-01 RESOLUTION NO. 5158-26 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, ADOPTING AN INVESTMENT POLICY FOR THE CITY OF SOUTH BEND FOR CALENDAR YEAR 2026 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. On January 27, 2025, this Council enacted Ordinance No. 11178-25, which adopted an identical investment policy for the City of South Bend, some provisions of which are effective through December 1, 2028, and some provisions of which were effective through January 27, 2026. This resolution adopts an identical investment policy for the City of South Bend as to investment in certificates of deposit,as set forth in Indiana Code§ 5-13-9-5 for calendar year 2026 unless it is earlier amended by resolution or ordinance. NOW,THEREFORE,BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follows: SECTION I. For purposes of Indiana Code § 5-13-9, the City Controller is authorized to invest in certificates of deposit of certain depositories, as defined by and subject to the requirements of Indiana Code § 5-13-9-5, which authorization will expire on January 26, 2027. SECTION II. That portion of the City's investment policy contained in Section I of this ordinance shall be effective from January 26, 2026 through January 26, 2027,unless earlier amended by ordinance. This resolution is further conditioned upon adoption by the Common Council and approval by the Mayor. Canneth J. Lee, C uncil President South Bend Common Council Attest: Bianca Tirado, C y Clerk Office of the City Clerk 1