Sec. 7. (a) During the annual meeting required by section 6 of this chapter, the investment officer shall make a written report to the investing officer’s local board of finance summarizing the political subdivision’s investments during the previous calendar year. The report must contain the name of each financial institution, government agency or instrumentality, or other person with whom the political subdivision invested money during the previous calendar year.

     (b) The local board of finance shall do the following at the meeting:

(1) Review the report.

(2) Review the overall investment policy of the political subdivision.

As added by P.L.72-1995, SEC.3.