HomeMy WebLinkAbout5158-26 Resolution Adopting an Investment Policy for the City of South Bend for Calendar Year 2026 RESOLUTION No . 5158_26
Passed by the Common Council of the City of South Bend, Indiana
January 26, 26
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Attest: City Clerk
Bianca L. Tirado
Attest: - President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
January 27, 20 26
4#0,i City Clerk
Bianca L. Tirado
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Approvedandsignedbyme Z 7) 20 26
Mayor
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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
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Presented by me, the undersigned Clerk of the City of South Bend, to the Mayor of the
City of South Bend, Indiana on the 27th day of January , 2025, at_12 o'clock
Bianca Tirado, City Clerk
Office of the City Clerk
Approved and signed by me on the Z 7 day of IA+.J• , 2025, at o'clock
Ja Mueller, Mayor
Ci of South Bend, Indiana
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