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Page 5 of 37 <br />(3) address investment diversification, yield, and <br />maturity and the quality and capability of investment management; and <br />(4) include: <br />(A) a list of the types of authorized investments in <br />which the investing entity's funds may be invested; <br />(B) the maximum allowable stated maturity of any <br />individual investment owned by the entity; <br />(C) for pooled fund groups, the maximum dollar - <br />weighted average maturity allowed based on the stated maturity date <br />for the portfolio; <br />(D) methods to monitor the market price of investments <br />acquired with public funds; <br />(E) a requirement for settlement of all transactions, <br />except investment pool funds and mutual funds, on a delivery versus <br />payment basis; and <br />(F) procedures to monitor rating changes in <br />investments acquired with public funds and the liquidation of such <br />investments consistent with the provisions of Section 2256.021. <br />(c) The investment policies may provide that bids for <br />certificates of deposit be solicited: <br />(1) orally; <br />(2) in writing; <br />(3) electronically; or <br />(4) in any combination of those methods. <br />(d) As an integral part of an investment policy, the governing <br />body shall adopt a separate written investment strategy for each of <br />the funds or group of funds under its control. Each investment <br />strategy must describe the investment objectives for the particular <br />fund using the following priorities in order of importance: <br />(1) understanding of the suitability of the investment to <br />the financial requirements of the entity; <br />(2) preservation and safety of principal; <br />(3) liquidity; <br />(4) marketability of the investment if the need arises to <br />liquidate the investment before maturity; <br />(5) diversification of the investment portfolio; and <br />(6) yield. <br />4/18/2018 <br />