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A. Borough investments shall be diversified to minimize the risk of loss resulting from over concentration of investments in a specific maturity, a specific issuer, a specific class of security or a specific financial institution. The Mayor shall adopt administrative procedures to implement this section.

B. The total amount of principal and accumulated interest which will be paid to Borough at maturity of all certificates of deposit, other deposits and/or repurchase agreements invested with any one financial institution shall not at any time exceed 20 percent of the total net worth of the financial institution, as shown on said financial institution’s most current annual financial statement. At no time shall the total value of Borough moneys invested in repurchase agreements, certificates of deposit and/or other deposits with a single financial institution, including interest which will be payable to the Borough at the maturity of each investment, exceed 30 percent of the total principal value of the entire Borough investment portfolio. The short-term investments authorized by FNSBC 7.16.040(C) shall not be included in calculating compliance with this 30 percent limitation. (Ord. 87-069 § 4, 1988. 2004 Code § 3.04.050.)