DENALI BOROUGH, ALASKA

 

RESOLUTION NO.  04-07

 

 

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, maintaining of today’s purchasing power 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

 

 

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, 2005 as set forth below.

 

1.) No non-dollar securities will be acquired.

 

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

a.  Obligation of the U.S. Government and agencies will be a minimum of 40%.

b.  Money Market funds 0-35%.

c.  Diversified index mutual funds 0-50%.

 

 

PASSED and APPROVED by the DENALI BOROUGH ASSEMBLY this 12th day of

MAY, 2004.

 

 

 

                                                                                                                                                                   

Mayor

 

 ATTEST:                                                                                          

Borough Clerk