KANE COUNTY, Ill. — The Kane County Finance and Budget Committee on Aug. 27 approved a housekeeping amendment to the county’s financial policies that constrains purchases of top‑rated corporate bonds to maturities no longer than 5.25 years, a change the treasurer said implements a state statutory requirement.

Treasurer Chris Lawson introduced the resolution as a routine compliance update. He said the state previously limited comparable purchases to shorter maturities (three years), and that the statute now sets the 5.25‑year limit. The committee moved, seconded and approved the resolution by roll call.

Why it matters: The change affects the treasurer’s ability to purchase longer‑term corporate debt in the county investment pool. Lawson told the committee the county manages roughly $437 million in investments and that interest income so far in the year suggested annualized earnings in the neighborhood of $20 million.

Details from the treasurer’s monthly report: Lawson reported $437 million in invested assets, $1.75 million interest earned in the reporting month and roughly $61 million cumulative interest earned year‑to‑date through July. He also walked the committee through multi‑year interest and earnings charts included in the monthly packet.

Procedure: Committee members asked whether the change was new or an adjustment of a prior limit; Lawson said the previous restriction had been three years and the statute now allows up to 5.25 years. The resolution passed after a roll call vote.

What’s next: The policy amendment is a technical change to reflect state law and does not itself change the county’s investment amount targets; the treasurer noted the broader portfolio composition and returns during his report and offered a second, separate resolution to support a candidate to the regional pension board (discussed separately).

Meeting excerpt: "That's what this says. That's the change," Lawson said when introducing the amendment. "It says that we can't buy bonds that are gonna mature any later than 5.25 years after they're issued."