The Municipal Code of Chicago (the "Municipal Code") authorizes the City Treasurer to invest funds of the City of Chicago (the "City") in certain authorized classes of securities. All persons involved in the investment of public funds in the Office of the City Treasurer (the "Office") must comply with the Municipal Code provisions relating to the deposit and investment of public funds. The purpose of this Statement of Investment Policy and Guidelines (the "Policy") is to establish cash management and investment guidelines for the Office. This Policy has been prepared in accordance with the Public Funds Investment Act (30 ILCS 235 / 2.5) and the Municipal Code (2-32-515).
I. POLICY
The Office is responsible for the management of daily receipt and investment of cash and related accounting operation?. The City Treasurer is the Chief Investment Officer of the City and investments may be directed by the City Treasurer, her designee, or outside professional fund managers, in accordance with this Policy. It is the policy of the City Treasurer to invest all funds under the Office's control in a manner that provides the highest investment return using authorized instruments while meetings the City's daily cash flow demands in conformance with the Municipal Code.
II. SCOPE OF POLICY
This Policy applies to all investments held within the Office and made on behalf of the City Treasurer with the exception of certain Bond Funds for which the City may specifically authorize other allowable investments consistent with applicable bond ordinance, trust indenture, the Municipal Code or State law.
III. OBJECTIVES
The primary objective in the investment of City funds under control of the City Treasurer is to ensure the safety of principal, while managing liquidity requirements of debt service and other financial obligations of the City, using authorized investment instruments providing the highest risk-adjusted investment return, while promoting economic development in the City.
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