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<br />2.1.13 J. A. Love Trust Fund <br />2.1.14 J. P. Poteet Trust Fund <br />2.1.15 Wilbor-Deshong Trust Fund <br />2.1.16 Economic Development Fund <br />2.1.17 Community Development Grant Fund <br />2.1.18 Revenue Bonds Sinking Fund <br />2.1.19 CO 1993 i & S Fund . <br />2.1.20 Contractual Obligation I & S Fund <br />2.1.21 All Other Funds <br /> <br />3.PRUDENCE <br /> <br />. Investments shall be made with judgement and care-under circumstances then prevai1ing--which persons <br />of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, <br />but for investment, considering the probable safety of their capital as well as the probable income to be <br />derived. <br /> <br />3.1 The standard of prudence to be used by investment officials shall be the "prudent person" standard <br />and shall be applied in the context of managing an overall portfolio. Investment officers acting in <br />accordance with written procedures and the investment policy and exercising due diligence shall be relieved <br />of personal responsibility for an individual security's credit risk or market price changes, provided deviations <br />from expectations are reported in a timely fashion and appropriate action is taken to control adverse. <br />developments. <br /> <br />4.0 OBJECTIVE <br /> <br />The primary objectives, in priority order, of the City's investment activities shall be: <br /> <br />4.1 SAFETY: Safety of principal is the foremost objective of the investment program. Investments of <br />. the City shall be undertaken in a manner that seeks to insure the preservation of capital in the overall <br />portfolio. To attain this objective, diversification is required in order that potential losses on individual <br />securities do not exceed the income generated from the remainder of the portfolio. <br /> <br />~ <br /> <br />4.2 LIQUIDITY: The City's investment portfolio will remain sufficiently liquid to enable the City of <br />meet all operating requirements which might be reasonably anticipated. <br /> <br />4.3 RETURN ON INVESTMENTS: The City's investment portfolio will be designed with the objective <br />of attaining a rate of return throughout budgetary and economic cycles, commensurate with the City's <br />investment risk constraints and the cash flow characteristics of the portfolio. <br /> <br />5.0 DELEGATION OF AUTHORITY AND TRAINING <br /> <br />Authority to manage the City's investment program is derived from the City's charter and reconfirmed by <br />adoption of this policy by the City Council. Management responsibility for the investment program is hereby <br />delegated to the Director of Finance who shall be responsible for all transactions undertaken. The Finance <br />Director may utilize appropriate staff personnel to assist in this area when necessary. Procedures and <br />controls to regulate the details of the investment program may be developed by the Finance Director as. <br />needed. The investment officer shall attend at least one training session relating to the officer's <br />responsibility under the Act \vithin 12 months of assuming duties and complete at least 10 hours of training <br />every two years thereafter. Such training shall be provided by any independent source outside the City such <br /> <br />'. <br /> <br />--r <br /> <br />, <br />