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FIN-2.14 - Investment Policy


Binding City Policy





WHEREAS, the City is permitted under State of Oregon law to invest its funds in various classes of securities including but not limited to: United States Government or United States Agency securities; time deposits and bankers’ acceptances of financial institutions located within Oregon; commercial paper of financial institutions and corporations; corporate bonds; repurchase agreements; municipal bonds of governments and agencies located in Oregon; and the Local Government Investment Pool; and


WHEREAS, there is a need to clearly define the criteria for operation of the City’s investment portfolio; and


WHEREAS, the primary objective of the Investment Policy is to establish a conservative set of investment criteria that will prudently protect the City’s assets, provide liquidity to meet the City’s cash needs, and enable the City to generate a market rate of return from its investment activities; and


WHEREAS, the Public Finance and Treasury Division of the Office of Management and Finance is charged with responsibility for managing the City’s investments; and


WHEREAS, the Public Finance and Treasury Division of the Office of Management and Finance has developed a formal Investment Policy after seeking the advice of the City’s Investment Advisory Committee; and


WHEREAS, ORS 294.135 requires the City to adopt an Investment Policy; and


WHEREAS, when material changes are made to the Investment Policy, the City is required pursuant to ORS 294.135 to submit the Investment Policy to the State of Oregon Short-Term Fund Board for review;





NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portland, Oregon that:


1.  The Investment Policy, attached hereto as Exhibit A, fulfills all State of Oregon, City Charter and Code mandated requirements, and is hereby adopted as the City of Portland’s Investment Policy.


2.  The City Treasurer shall be responsible for the implementation of the Investment Policy.


3.  Amendments to the Investment Policy must be approved by the City Council.


4.  This resolution shall remain in effect from the date of adoption unless a change is directed by Council.


BE IT FURTHER RESOLVED that the Investment Policy is binding City Policy.





Exhibit A - Investment Policy (PDF Document, 71 kb)





Resolution No. 36551, adopted by City Council November 14, 2007.

Replaced by Ordinance No. 181829, passed by City Council May 14, 2008 and effective July 1, 2008.

Amended by Resolution No. 36650, adopted by City Council December 10, 2008.

Amended by Resolution No. 36694, adopted by City Council April 8, 2009.

Amended by Resolution No. 36829, adopted by City Council December 1, 2010.

Amended by Resolution No. 36927, adopted by City Council May 16, 2012.

Amended by Resolution No. 37035, adopted by City Council October 2, 2013.

Amended by Resolution No. 37094, adopted by City Council November 12, 2014.