§ 2-141. Adoption of policy; parameters generally; review.

Latest version.

(a)

In accordance with the provision of R.S. 33:2955(D), the city hereby adopts this investment policy.

(b)

The city shall operate under the prudent person rule, exercising judgment and care, under the circumstances prevailing, which people of ordinary prudence would employ in the management of their own affairs, not in regard to speculation, but as to the permanent disposition of their funds, considering both income and safety of capital.

(c)

The assets of the city shall be held in trust by the fiduciary designated by the city.

(d)

This policy is not intended to remain static. Normally, the city will review this policy at least annually and, if deemed advisable, recommend changes. Recommendations from outside professionals leading to improvements in policies, procedures and operations are always welcome.

(Ord. No. 924, 4-8-96)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');