Title
Request for Adoption of the Updated Investment Policy for the City of Rochester Hills
Body
Whereas, adhering to Act No. 20 of the Public Acts of Michigan of 1943 as amended; and
Whereas, Section 5 of P.A. 20, as amended, requires that the City of Rochester Hills City Council, in conjunction with the Investment Officer, adopt an Investment Policy; and
Whereas, the Investment Officer has submitted a revised proposed Investment Policy which complies with the provisions of P.A. 20 as amended; and
Whereas, the City of Rochester Hills City Council wishes to authorize the Investment Officer to invest public funds according to the Investment Policy.
Now, Therefore, Be It Resolved, that the City of Rochester Hills City Council hereby authorizes that:
1. The Investment Policy hereto is approved and shall take effect October 21, 2025.
2. The Investment Officer is authorized to invest funds of the City of Rochester Hills pursuant to the Investment Policy.