-
About Homer
-
- Americans with Disabilities Act Compliance Program City CampgroundsCommunity Recreation COVID-19 Hickerson Memorial Cemetery
- Library Parks & Trails Public Safety Fire Police Emergency Information
- Events & Activities City Calendar Library Calendar Recreation Calendar Doing Business in Homer Sister City Program Coast Guard City
-
- Departments
-
Government
-
- Office of the Mayor City Council City Clerk's Office Committees & Task Forces
- Commissions & Boards ADA Advisory Board Economic Development Advisory Commission Library Advisory Board Parks, Art, Recreation & Culture Advisory Commission Planning Commission Port & Harbor Advisory Commission
- Homer City Code Public Meetings Agendas & Minutes Invitations to Bid & RFPs
-
- How Do I?
Resolution 10-74 Adopting Written Policies for Managing the Monies of the Permanent Fund
Summary
A Resolution of the City Council of Homer, Alaska, Adopting Written Investments Policies for Managing the Monies of the Permanent Fund. City Manager/Permanent Fund Committee.
Ordinance/Resolution ID:
10-74
Ordinance/Resolution Status:
Adopted
Effective Date:
09/13/2010
File Attachments:
Related Meetings
Details
CITY OF HOMER
HOMER, ALASKA
City Manager/Permanent Fund Committee
RESOLUTION 10-74
A RESOLUTION OF THE CITY COUNCIL OF HOMER, ALASKA, ADOPTING WRITTEN INVESTMENT POLICIES FOR MANAGING THE MONIES OF THE PERMANENT FUND.
WHEREAS, The Permanent Fund Committee (PFC) met with representatives of U.S. Bank to review the Investment Policy Statements of the Permanent Fund Equity-Growth Portfolio and Fixed Income Portfolio; and
WHEREAS, The PFC was attentive to the investment policies of the Permanent Fund, ensuring the following objectives were met: (1) Safety of principal;
(2) Maintain sufficient liquidity to meet the City's cash flow requirements; and (3) Achieving a reasonable market rate or return; and
WHEREAS, Upon careful consideration the PFC adopted the Investment Policy Statements of the both the Equity-Growth and Fixed Income portfolios; and
WHEREAS, Pursuant to HCC 3.10.130(b)(1) in order to ensure sound investment strategy, the City Council shall establish written investment policies by formal resolution which shall be adhered to without exception.
NOW, THEREFORE, BE IT RESOLVED that the Homer City Council hereby adopts the written Investment Policies for managing the monies of the Permanent Fund.
PASSED AND ADOPTED by the Homer City Council this 13th day of September, 2010.
CITY OF HOMER
_____________________________
JAMES C. HORNADAY, MAYOR
ATTEST:
______________________________
JO JOHNSON, CMC, CITY CLERK
Fiscal Note: N/A
