2017/03/29 Council Agenda Packet

Ii ORDINANCE NO. 2513- AN ORDINANCE adopting a revised Investment Policy ofPublic Funds and superseding Ordinance No.2083-95 WHEREAS, the City of Everett has developed revisions to its Investment Policy that will facilitate the management of the City's investment program; and WHEREAS, the City's Investment Policy applies to all financial assets of the City, except the Police Pension and Fire Pension funds, which are covered by separate investment policies; NOW,THEREFORE,THE CITY OF EVERETT DOES ORDAIN: Section 1: The City hereby adopts the Investment Policy, which is attached hereto and incorporated herein by reference, and such policy shall supersede any previous investment policies. This Investment Policy shall apply to all financial assets of the City, except the Police Pension and Fire Pension funds, which are covered in separate investment policies. Section 2: Ordinance No. 2083 92513-015 is hereby superseded. The enactment of this ordinance shall not affect or in any way modify any obligation, right or liability, which may exist by virtue of the ordinance herein superseded. Section 3: If any section, subsection, sentence, clause, phrase or word of this ordinance should be held to be invalid or unconstitutional by a court of competent jurisdiction, such invalidity or unconstitutionality thereof shall n of affect the validity or constitutionality of any other section, subsection, sentence, cause,phrase or word of this ordinance. Mayor ATTEST: City Clerk - Passed: 4-11-01 Valid: 4-16-01 Published: 4-20-01 Effective: 5-1-01