HomeMy WebLinkAbout02-198 RESOLUTION 02-198
A RESOLUTION ESTABLISHING CITY OF PRIOR LAKE
INVESTMENT POLICY.
Motion By: LEMAIR Second By: PETERSEN
WHEREAS, the ultimate purpose of a formal investment policy is to safeguard the City of Prior Lake's
monetary resources; and
WHEREAS, an Investment Policy promotes the acquisition of safe investments, preservation of principal
and maximum return on investments consistent with the cash flow needs of the City and
state statutes; and
WHEREAS, the establishment of an Investment Policy will provide written criteria to manage the City of
Prior Lake's investment portfolio; and
WHEREAS, the City Council intends that the City Manager and Finance Director are to be the principals
responsible for administering all City investment purchases consistent with the provisions
of the Investment Policy; and
WHEREAS, the City Council has carefully reviewed the City of Prior Lake Investment Policy and
Procedure Manual.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA that:
1. The recitals set forth above are incorporated herein.
2. The City of Prior Lake Investment Policy and Procedure Manual is hereby approved.
PASSED AND ADOPTED THIS 2nd DAY OF DECEMBER, 2002.
YES NO
Haugen X Haugen
Vacant Vacant
LeMair X LeMair
Petersen I X Petersen
ZieskaI X Zieska
City Manager, City of Prior Lake
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER