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.v <br /> ORDINANCE NO. 2164-96 E!/E?ETT <br /> AN ORDINANCE establishing an investment policy for police pension funds and <br /> delegating investment authority to the City Investment Committee <br /> WHEREAS, RCW 35.39.032 provides that a city may authorize either a city <br /> official or committee to make investments; and <br /> WHEREAS, the Police Pension Board has reviewed and approved an <br /> investment policy for Police Pension Funds, including a delegation of investment <br /> authority to the City Investment Committee; and <br /> WHEREAS, the nature of the cash requirements for the Police Pension fund <br /> make it unique to non-pension fund portfolio investment objectives; <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: The City hereby authorizes the City Investment Committee to make <br /> investments for Police Pension Funds. <br /> Section 2: The City hereby adopts the attached City Investment Policy for the <br /> Police Pension Fund. <br /> Section 3: The authority granted to the City Investment Committee is included <br /> within the content of the attached Investment Policy - Police Pension <br /> Fund. <br /> PASSED BY THE CITY COUNCIL and approved by its Mayor at a regular <br /> meeting of the Council this 31st day of Ju '996. <br /> .'(/. , �l 42V <br /> •tom 1 9 :en, Mayor <br /> AT.,/SZA <br /> // <br /> Q <br /> City Clerk Lb/att.- <br /> Passed: 1/31/9(.0 <br /> Valid: 815 1 9(o <br /> Effective: 8'Z I (9(o <br /> Published: SII2_I9(4 <br />