Indiana § 5-13-9-5.7 Political subdivision investment policy

Indiana Statutes

§ 5-13-9-5.7 — Political subdivision investment policy

Indiana § 5-13-9-5.7

Title 5STATE AND LOCAL ADMINISTRATION

Art. 13INVESTMENT OF PUBLIC FUNDS

Ch. 9Deposit and Investment Powers

This text of Indiana § 5-13-9-5.7 (Political subdivision investment policy) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-13-9-5.7 (2026).

Text

7.

(a)The fiscal body of a political subdivision may adopt an investment policy authorizing the investment of public funds of the political subdivision for more than two (2) years and not more than five (5) years. The policy must:

(1)be in writing;

(2)be adopted at a public meeting;

(3)provide for the investment of public funds with the approval of the investing officer;

(4)provide that the investments must be made in accordance with this article;

(5)limit the total investments outstanding under this section to not more than twenty-five percent (25%) of the total portfolio of public funds invested by the political subdivision, including balances in transaction accounts; and

(6)state a date on which the policy expires, which may not be more than four (4) years after the date on which

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7. (a) The fiscal body of a political subdivision
may adopt an investment policy authorizing the investment of public
funds of the political subdivision for more than two (2) years and not
more than five (5) years. The policy must:
(1) be in writing;
(2) be adopted at a public meeting;
(3) provide for the investment of public funds with the approval
of the investing officer;
(4) provide that the investments must be made in accordance with
this article;
(5) limit the total investments outstanding under this section to
not more than twenty-five percent (25%) of the total portfolio of
public funds invested by the political subdivision, including
balances in transaction accounts; and
(6) state a date on which the policy expires, which may not be
more than four (4) years after the date on which the policy takes
effect.
(b) A policy adopted by a fiscal body under subsection (a) remains
in effect only through the date of expiration established in the policy,
which may not be more than four (4) years after the date on which the
policy takes effect.
(c) A fiscal body that has adopted a written investment policy under
subsection (a) may adopt an ordinance authorizing its investing officer
to make investments having a stated final maturity that is:
(1) more than two (2) years; but
(2) not more than five (5) years;
after the date of purchase or entry into a repurchase agreement.
(d) An ordinance adopted by a fiscal body under subsection (c) and
the power to make an investment described in subsection (c) expire on
the date on which the policy expires, which may not be more than four
(4) years after the date on which the policy takes effect.
(e) After an investment of public funds of a political subdivision is
made by the investing officer under this section, the total investments
of the political subdivision outstanding under this section may not
exceed twenty-five percent (25%) of the total portfolio of public funds
invested by the political subdivision, including balances in transaction
accounts. However, an investment that complies with this section when
the investment is made remains legal even if:
(1) the investment policy has expired; or
(2) a subsequent decrease in the total portfolio of public funds
invested by the political subdivision, including balances in
transaction accounts, causes the percentage of investments
outstanding under this section to exceed twenty-five percent
(25%) of the total portfolio of public funds invested by the
political subdivision.
(f) An investing officer may contract with a federally regulated
investment advisor or other institutional money manager to make
investments under this section.