§ 3.88.040. Investment policy.

Latest version.

A.

The investment objective of the investment program is to achieve a return on investments which when combined with the amount and schedule of municipal deposits will be sufficient to accomplish the 34-year prefunding objective. The rate of return used to project the municipal obligation for the funding program was 6.9 percent.

B.

The investment board shall develop and adopt written investment policies on such areas as they deem prudent, including diversification, quality and transaction restrictions.

C.

Notwithstanding any other provision of the Anchorage Municipal Code, the chief fiscal officer is authorized to invest the funds of the investment program as determined by the investment board.

D.

Reserved.

(AO No. 95-63, § 1, 3-7-95; AO No. 2009-140, § 1, 1-12-10; AO No. 2015-116(S), § 1, 11-10-15 )

                    
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