HomeMy WebLinkAbout2022 Ordinance No. 0401
BY AUTHORITY
ORDINANCE NO. 40 COUNCIL BILL NO. 44
SERIES OF 2022 INTRODUCED BY COUNCIL
MEMBER WOODWARD
AN ORDINANCE AMENDING ENGLEWOOD MUNICIPAL CODE TITLE 4,
CHAPTER 1, SECTION 4-1-2 CONCERNING THE ANNUAL REQUIRED
ADOPTION OF THE CITY’S INVESTMENT POLICY.
WHEREAS, Englewood Municipal Code provides that the City shall adopt an Investment Policy
every year; and
WHEREAS, the Investment Policy is required to be adopted annually, even if it is not amended
from the prior year; and
WHEREAS, removing the annual adoption requirement will require approval of the Investment
Policy only when its provisions are modified from the last-adopted Investment Policy.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, AS FOLLOWS:
Section 1. Amendment of Englewood Municipal Code
Title 4, Chapter 1, Section 4-1-2 of Englewood Municipal Code is hereby amended to read as follows
(deleted provisions struck through; new provisions in italics):
4-1-2: Investment of Municipal Funds.
The City shall invest all funds and monies not immediately needed for the operating expenses of the City,
except for City employee pension and the Firefighters' Pension Fund, the Volunteer Firefighters' Pension
Fund, the Police Officers' Pension Fund, Non-Emergency Employees Retirement Plan Fund and other
City employee retirement funds and plans, pursuant to an investment policy which shall be adopted by
City Council resolution each year.
A. The City shall distribute the investment earnings and losses in the following manner: on a
monthly basis, the earnings or losses shall be distributed proportionally, based on the average
cash balance available for investment in each fund. Funds with negative cash balance will
not share in earnings or losses.
Section 2. General Provisions Applicable to this Ordinance
The following general provisions and findings are applicable to the interpretation and application of this
Ordinance:
A. Severability. If any clause, sentence, paragraph, or part of this Ordinance or the application thereof
to any person or circumstances shall for any reason be adjudged by a court of competent jurisdiction invalid,
such judgment shall not affect, impair or invalidate the remainder of this Ordinance or its application to
other persons or circumstances.
B. Inconsistent Ordinances. All other Ordinances or portions thereof inconsistent or conflicting with
this Ordinance or any portion hereof are hereby repealed to the extent of such inconsistency or conflict.
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C. Effect of repeal or modification. The repeal or modification of any provision of the Code of the
City of Englewood by this Ordinance shall not release, extinguish, alter, modify, or change in whole or in
part any penalty, forfeiture, or liability, either civil or criminal, which shall have been incurred under such
provision, and each provision shall be treated and held as still remaining in force for the purposes of
sustaining any and all proper actions, suits, proceedings, and prosecutions for the enforcement of the
penalty, forfeiture, or liability, as well as for the purpose of sustaining any judgment, decree, or order which
can or may be rendered, entered, or made in such actions, suits, proceedings, or prosecutions.
D. Safety Clauses. The City Council hereby finds, determines, and declares that this Ordinance is
promulgated under the general police power of the City of Englewood, that it is promulgated for the health,
safety, and welfare of the public, and that this Ordinance is necessary for the preservation of health and
safety and for the protection of public convenience and welfare. The City Council further determines that
the Ordinance bears a rational relation to the proper legislative object sought to be obtained. This Safety
Clause is not intended to affect a Citizen right to challenge this Ordinance through referendum pursuant to
City of Englewood Charter 47.
Introduced, read in full, and passed on first reading on the 15th day of August, 2022.
Published by Title as a Bill for an Ordinance in the City’s official newspaper on the 18th day of August,
2022.
Published as a Bill for an Ordinance on the City’s official website beginning on the 17th day of
August, 2022 for thirty (30) days.
Read by Title and passed on final reading on the 6th day of September, 2022.
Published by Title in the City’s official newspaper as Ordinance No.40, Series of 2022, on
the 8th day of September, 2022.
Published by title on the City’s official website beginning on the 7th day of September, 2022
for thirty (30) days.
This Ordinance shall take effect thirty (30) days after publication following final passage.
Othoniel Sierra, Mayor
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ATTEST:
Stephanie Carlile, City Clerk
I, Stephanie Carlile, City Clerk of the City of Englewood, Colorado, hereby certify that the
above and foregoing is a true copy of the Ordinance passed on final reading and published by
Title as Ordinance No. 40, Series of 2022.
Stephanie Carlile
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