Laserfiche WebLink
<br />Page 6 <br />City of Casselberry, Florida <br />Investment Policy <br /> <br />F. All daily investment activity is coordinated by the Finance Director. The <br />following positions are designated by the City Manager as having the authority <br />to initiate all investment activities: <br /> <br />Finance Director <br />Other designees by the City Manager on an as needed basis <br /> <br />XII. Monev Manal!ers <br /> <br />A. The City may utilize an outside money manager to invest up to 25% of the <br />portfolio. <br /> <br />B. The money manager must be a securities dealer that is a member of the New <br />York Stock Exchange having a physical presence in Florida and having a <br />minimum regulatory capital in excess of fifty million dollars ($50,000,000) or a <br />primary securities dealer as designated by the Federal Reserve Bank of New <br />York, or a bank having trust powers or a trust company which is chartered by the <br />United States Government or the State of Florida. <br /> <br />C. The City shall select the money manager based upon qualifications and fees using <br />an RFP process. At least three proposals must be solicited. <br /> <br />D. Any money manager selected will be required to enter into a money management <br />agreement with the City, as approved by the City Commission. <br /> <br />XIII. Policv Review and Amendment <br /> <br />A. The City Manager shall review these policies in their entirety on a periodic basis. <br /> <br />B. This policy may be amended in writing from time to time by the City Manager <br />with approval of the City Commission. <br />