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MINT' <br /> I ETT <br /> ORDINANCE NO. <br /> AN ORDINANCE adopting a revised Investment Policy of Public Funds and superseding <br /> Ordinance NO. 2513-01 <br /> WHEREAS,the City of Everett has developed revisions to its investment Policy that reflect changes in <br /> regulatory requirements, Finance department organization, and best practices; and <br /> WHEREAS,the City's Investment Policy applies to all financial assets of the City, except the Police <br /> Pension and Fire Pension funds,which are covered by separate investment policies; <br /> NOW THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: The City hereby adopts the Investment Policy,which is attached hereto and <br /> incorporated herein by reference, and such policy shall supersede any previous investment policies. <br /> This investment Policy shall apply to all financial assets of the City, except the Police Pension and Fire <br /> Pension funds, which are covered in separate investment policies. <br /> Section 2: Ordinance No. 2513-01 is hereby superseded. The enactment of this ordinance shall <br /> not affect or in any way modify any obligation, right, or liability which may exist by virtue of the <br /> ordinance herein superseded. <br /> Section 3: If any section,subsection, sentence, clause, phrase, or word of this ordinance should <br /> be held to be invalid or unconstitutional by a court of competent jurisdiction, such invalidity or <br /> unconstitutionality thereof shall not affect the validity or constitutionality of any other section, <br /> subsection, sentence, clause, phrase or word of this ordinance. <br /> Ray Stephanson, Mayor <br /> ATTEST: <br /> City Clerk <br /> Passed: <br /> Valid: <br /> Published: <br /> Effective: <br /> 102 <br />