Sec. 4-1-60. Investment of funds.
The Finance Director may invest public funds and moneys of the Town in any securities now or hereafter designated as legal investments in any applicable state statute or in any of the following securities:
(1) Obligations issued by any agency, instrumentality or public corporation of the United States;
(2) Obligations issued by or on behalf of the State or any agency, instrumentality or public corporation thereof;
(3) Obligations issued by or on behalf of any political subdivision of the State, including the Town;
(4) Guaranteed investment contracts of domestically regulated insurance companies with claims paying ability ratings of “AA” or better from Standard & Poor’s Corporation;
(5) Repurchase agreements of any marketable security described in this Article which afford the Town a perfected security interest in such security; and
(6) Shares in any money market fund or account, unit investment trust or open- or closed-end investment company, all of the net assets of which are invested in securities described in this Article, to the extent not prohibited by Colorado Constitution Article XI, Section 2. (Prior code 3.17.010)