HomeMy WebLinkAbout26-01 Resolution Adopting an Investment Policy for the City of South Bend for Calendar Year 2026 Phone 311 inside City limits
County-City Building o4SpUTH EmEmail 311 a@southbendin.gov
227 W Jefferson Blvd Suite,1200 N Website Southbendin.gov
South Bend,IN 46601
James Mueller,Mayor 7 . =_,,, d
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1�5/ Bianca Tirado
City Clerk, South Bend, IN
City of South Bend
Department ofAdm inistra tion &Finance
Division ofHuman Resources
January 20,2026
Canneth Lee,President
City of South Bend Common Council
227 W.Jefferson Boulevard,4th Floor
South Bend,Indiana 46601
RE: 2026 CoSB Investment Policy
Dear President Lee,
This resolution establishes an investment policy for the City of South Bend for calendar year 2026.
This investment policy continues the investment policy established by ordinance in 2025 and
renews the portion that expires in 2026.This resolution allows for the City's investment portfolio to
be invested in certificates of deposit of certain depositories as defined by Indiana Code 5-13-9-5.
I will present this bill to the Common Council at the appropriate committee and Council meetings.
Thank you for your attention to this request. If you should have any questions,please feel to contact
me at 574-235-9822.
Regards,
/if triffej
Kyle Willis
City Controller
Filed in Clerk's Office
Jan 20, 2026
Bianca Tirado
BILL NO. 26-01 City Clerk, South Bend, IN
RESOLUTION NO.
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
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amended by ordinance.This resolution is further conditioned upon adoption by the Common
Council and approval by the Mayor.
Canneth J. Lee, Council President
South Bend Common Council
Attest:
Bianca L. Tirado,City Clerk
Office of the City Clerk
Presented by me, the undersigned Clerk of the City of South Bend, to the Mayor of the
City of South Bend, Indiana on the day of ,2026, at o'clock .m.
Bianca L. Tirado,City Clerk
Office of the City Clerk
Approved and signed by me on the day of , 2026,at o'clock
.m.
James Mueller,Mayor
City of South Bend,Indiana
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