Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Investment Policy Adoption topic
No spam. Unsubscribe anytime.
Cheyenne council amends and adopts revised investment policy to include external financial advisers
Summary
The council adopted a revised City of Cheyenne investment policy after an amendment to allow a minimum of two non-city financial advisers on the investment committee. The amendment was proposed by Doctor Rennie and passed by the council.
The City Council adopted an updated investment policy and amended the governing language to allow a minimum of two non-city advisers with financial expertise on the Investment Committee.
Doctor Rennie moved to amend the policy language in Section 4, paragraph 6, replacing the prior limit with “a minimum of 2 non city employees with financial expertise.” Mr. Seagrave seconded the amendment. Doctor Rennie explained the change would give the city flexibility to appoint more outside advisers if qualified volunteers are available; the council approved the amendment by voice vote and then adopted the revised policy as amended.
Council members said the memorandum and proposed changes helped clarify the committee’s role. No public comments were offered. The amendment was described in the meeting as intended to keep two advisers as non-voting members with two-year appointments while allowing additional qualified advisers if needed.
