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<br />01.3 Purpose <br /> <br />A. The purpose of thi s investment pol icy is to provi de the <br />City with specific policy guidelines so that the absolute <br />return on invested capital may be maximized while the risk <br />to invested capital may be minimized. <br /> <br />B. Safety of principal is the foremost objective of the <br />investment pol i cy of the City of Pari s. Each transacti on <br />shall seek to first ensure that capital losses are avoided <br />whether they be from defaults or erosion of market value. <br /> <br />C. A secondary objective of this investment policy is to <br />obtain a Market-Average Rate of Return on investment. <br /> <br />D. Another secondary objective of this investment policy, of <br />equal importance with attaining an acceptable return on <br />investment, is liquidity to the extent needed to pay the <br />City's obligations as they become due. <br /> <br />01.4 Scope <br /> <br />A. This investment policy applies to all financial assets of <br />the City of Pari s. These assets are accounted for in the <br />City's annual financial report and include: <br /> <br />-. <br /> <br />1. the general fund <br /> <br />2. special revenue funds <br /> <br />3. capital project funds <br /> <br />4. trust and agency funds, to the extent not required by <br />1 aw or exi sti ng contract to by kept segregated and <br />managed separately; <br /> <br />5. debt service funds, including reserves and sinking <br />funds, to the extent not required by law or existing <br />contract to be kept segregated and managed separately; <br /> <br />6. any new fund created by the City, unless specifically <br />exempted from thi s pol icy by the City Council or by <br />law. <br /> <br />B. This policy does not apply the Firemen's Relief and <br />Retirement Fund. Policy for said Fund being established <br />by the Pension Board itself. <br /> <br />01.5 Basic Policy <br /> <br />A. All City officials having either a direct or indirect role <br />in the process of i nvesti ng City funds shall act <br />responsibly as custodians of the public trust. <br /> <br />21:01-2 <br />