§ 2-501. Scope.

(a) There is hereby established an investment policy for the investment of surplus public funds of the City of Lake Wales in accordance with F.S. § 218.415, which applies to all investments of the city's pooled cash and includes cash and investment balances of the following funds:

(1) General fund.

(2) Special revenue funds.

Airport fund

AWARE fund

CRA fund

Library fund

Transportation fund

(3) Enterprise funds.

Cemetery fund

Sewer fund

Waste disposal fund

Water fund

(4) Debt service fund.

(5) Capital projects fund.

(6) Any new fund created by the city, unless specifically exempted by the city commission.

(b) The policies set forth in this division do not apply to the three (3) employee pension funds of city, depositories for deceased debt, or assets under bond trust indenture agreements, when held by third party custodians and/or money managers.

(c) All financial assets held or controlled by the city, not otherwise classified as restricted assets requiring separate investing, shall be identified as "general operating funds" of the city for the purpose of this policy, and shall be invested under the guidelines as herein set forth.

(Ord. No. 95-44, § 1, 12-19-95)