HomeMy WebLinkAboutBill No. 75-22 City of South Bend Investment Policy k's r'{fice
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1200N COUNTY-CITY BUILDING 04Yd�; P NE 74.235.9216
227 W. JEFFERSON BLVD. I NOV. 2 2022 F 4.235.9928
SouTx BEND,INDIANA 46601-1830W . ; \;
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DAWN M.JONES
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CITY OF SOUTH BEND, IN JAMES MUELLER, MAYOR
DEPARTMENT OF ADMINISTRATION AND FINANCE
November 21,2022
Ms. Sharon McBride,President
City of South Bend Common Council
227 W.Jefferson Boulevard,4th Floor
South Bend, Indiana 46601
RE: Investment Policy
Dear President McBride,
The Indiana legislature has enacted Indiana Code § 5-13-9 et seq,which allows the fiscal officer of a city to
make investments of certain city funds into designated investment vehicles.Accordingly,the attached
ordinance authorizes me to continue our current practice of exercising these investment powers to maximize
financial resources of the City.
This bill makes no changes to the current investment policy of the City,and it mirrors bills passed by the
Common Council in December of 2020 and December of 2021.Certain powers of investment outlined in
the Indiana Code require annual approval from the South Bend Common Council,which is why this bill is
being presented at this point.
I will present this bill to the Common Council at the appropriate committee and Council meetings. It is
requested that this bill be filed for 1st reading on November 28,2022,with 2nd reading,public hearing and
3rd reading scheduled for December 12,2022.
Thank you for your attention to this request. If you should have any questions,please feel to contact me at
574-235-9822.
Regards,
Daniel T. Parker
City Controller
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