The Odon Winkelpleck Public Library Board of Finance shall meet annually after the first Monday and on or before the last day of January to elect a president and secretary, review the written report of the library's investments during the previous calendar year, and review the library's investment policy.
The Odon Winkelpleck Public Library will invest in:
- Any security backed by the full faith and credit of the United States Treasury or fully guaranteed by the United States; and issued by the United States Treasury, a federal agency, or a federal instrumentality, or a federal government sponsored enterprise.
- Deposit accounts issued or offered by a designated depository with a principle office or branch located within Madison Township, Daviess County, Indiana.
- Agreements commonly known as repurchase or resale agreements with depositories designated by the State Board of Finance as depositories for state investments.
The Odon Winkelpleck Public Library will not purchase securities on margin nor will it open a securities margin account for the investment of library funds.
Investments must have a stated final maturity of not more than two years after the date of purchase or entry into a repurchase agreement. Interest on investments will not be added automatically to the investment. Instead, interest on investments should be paid to the library at each maturity date and posted to the appropriate fund.
(Last Reviewed 1/15/2015)