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Orange City council adopts updated investment policy to align with state law
Summary
The City of Orange City adopted Ordinance 695 at second and final reading Oct. 14, 2025, updating the city's investment plan to reflect recent state statutory changes and to strengthen diversification, issuer limits, audit and transparency requirements.
The City of Orange City on Oct. 14 adopted Ordinance 695, updating the cityinvestment policy to align with recent Florida statutory changes and industry best practices. The ordinance was presented at second and final reading and approved by unanimous vote.
Deborah Moore, city staff attorney, told the council the policy had not changed since 2008 and that the update prioritizes "safety, liquidity, yield, and transparency in that order." She said the changes include per-sector and per-issuer limits to reduce concentration, expanded audit and continuing-education requirements and enhanced safeguards for handling cash and securities. Moore said the ordinance incorporates the 2023 state requirement that investment decisions be based on financial criteria, not political or social considerations.
Council members moved immediately to a vote after staffrecap; the ordinance was adopted on a unanimous voice roll call. Staff told the council the changes strengthen oversight and reduce the city's exposure to single-issuer risk.
The ordinance takes effect as specified in the adopted language and will be posted with the city's code of ordinances.
