1.6.102: INVESTMENT OF FUNDS:
A. Authorized By State Statutes: Any monies of the City which are not presently required in the conduct of its respective affairs may be invested in securities in a manner authorized by Colorado statutes and as directed by City Council.
B. Initial Capitals: The Chief Financial Officer may establish other trusts or accounts to invest assets of the cemetery endowment fund, assets of the C.D. Smith trust fund and other nontax funds in investments other than those listed in Colorado statutes. These funds shall be subject to the standards of the City investment policy as approved by City Council and investment guidelines established by the Chief Financial Officer for each trust fund or account.
C. Investments Of Monies Received By MHS Enterprise: All monies received by MHS Enterprise by donation and not otherwise restricted as to investments (subject to MHS Enterprise's obligations under the Memorial Health System Affiliation), may be invested by the Board of Trustees as the Board deems advisable subject only to the provisions of Colorado Revised Statutes 1973, title 15, article 1, section 3 (prudent investor rule).
D. Investments Of Monies In MHS Enterprise's Capital Improvement Fund: The MHS Enterprise's capital improvement fund (to the extent that such fund is utilized) shall be invested in accord with the Colorado Springs MHS Enterprise capital improvement fund investment policy statement as approved by the MHS Enterprise Board of Trustees. Up to fifty percent (50%) of the market value of the MHS Enterprise capital improvement fund may be invested in equity securities and up to fifty percent (50%) may be invested in corporate bonds, or other fixed income securities. All investments made pursuant to the policy statement shall be subject to the Uniform Prudent Investor Act, Colorado Revised Statutes section 15-1.1-101 et seq., and other applicable laws.
E. Investments Of Monies In Colorado Springs Utilities Supplemental Executive Retirement Plan: Monies invested in the Colorado Springs Utilities supplemental executive retirement plan may be invested as provided in the plan through the International City Managers' Association. Such investments may be made in stocks, preferred or common, or bonds of corporations, created or existing under the laws of the United States, or any state, district, or territory thereof, which, at the time of purpose, are listed on a national stock exchange or traded over the counter in the United States, or in international securities. These domestic and international investments may include direct investments, investments through mutual funds and investments in separate accounts created or existing under the laws of the United States or other sovereign nations and that are registered with the Securities and Exchange Commission or other non-U.S. regulatory body, if applicable. All investments made pursuant to the plan shall be subject to the Uniform Prudent Investor Act, Colorado Revised Statutes section 15-1.1-101 et seq. (Ord. 11-18; Ord. 15-62)
