DENALI BOROUGH, ALASKA

 

RESOLUTION NO.  02-07

 

 

A RESOLUTION OF THE ASSEMBLY OF THE DENALI BOROUGH PERTAINING TO THE ASSET ALLOCATION OF THE PERMANENT INVESTMENT FUND.

 

 

WHEREAS, the Denali Borough Permanent Investment Fund was created by the people of the Denali Borough to provide for the long term investment of funds; and

 

 

WHEREAS, [the probable safety capital as well as] maintaining of today’s purchasing power [and future probable income] is of the utmost importance; and

 

 

WHEREAS, the Assembly is required by Borough Code to establish, by formal Resolution each year, a plan for the allocation of investment assets; and

 

 

AND WHEREAS, the Borough Code sets forth investment policies.

 

 

NOW THEREFORE BE IT RESOLVED: that the Denali Borough Assembly adopts an asset allocation scheme for the period ending May 31, 2002 as set forth below.

 

1.)  [The portfolio will be invested entirely in domestic securities.]  No non-dollar securities will be acquired.

 

2.)  Assets will be invested within the following ranges:

a.  Obligation of the [U.S. Treasure] U.S. Government and agencies 50-100%.

b.  Money Market funds 0-35%.

c.  Diversified index mutual funds 0-40%.

 

 

PASSED and APPROVED by the DENALI BOROUGH ASSEMBLY this 19th day of

May, 2002.

 

                                    SIGNATURE ON FILE                                                       

Mayor

 

 ATTEST:                           SIGNATURE ON FILE

                                                 Borough Clerk