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<br />INVESTMENT POLICY <br />Revised January 2002 <br /> <br />1.0 POLICY AND INVESTMENT STRATEGY <br /> <br />It is the policy of the City of Paris to invest public funds in a manner which will provide the highest investment <br />return with the maximum security while meeting the daily cash flow demands of the entity and conforming to <br />all state and local statutes governing the investment of public funds. <br /> <br />Investment strategies for operating funds have as their primary objective to assure that anticipated flows are <br />matched with adequate investment liquidity. The secondary objective is to create a portfolio structure which <br />will experience minimal volatility during economic cycles. This may be accomplished by purchasing high <br />quality, short to medium securities which will complement each other in a laddered maturity structure. The <br />dollar weighted average maturity target will be 365 days or less. <br /> <br />Investment strategies for debt service funds shall have as the primary objective the assurance of investment <br />liquidity adequate to cover the debt service obligation on the required payment date. Securities purchased shall <br />not have a stated final maturity which exceeds the debt service payment date. <br /> <br />Investment strategies for debt service reserve funds shall have as the primary objective the ability to generate a <br />dependable revenue stream to the appropriate debt service fund from securities with a low degree of volatility. <br />Securities should be of high quality and consistent with bond ordinance requirements. Short to medium <br />maturities generally meet these requirements. <br /> <br />Investment strategies for special projects or special purpose funds will have as their primary objective to assure <br />that anticipated cash flows are matched with adequate investment liquidity. The stated final maturity dates of <br />securities held should not exceed the estimated project or purpose completion date. <br /> <br />2.0 SCOPE <br /> <br />This investment policy applies to the funds listed below. These funds are accounted for in the City's <br />Comprehensive Annual Financial Report. <br /> <br />2.1 Consolidated Cash Funds <br /> <br />2.1.01 General Fund <br />2.1.10 Water and Sewer Fund <br />2.1.11 Capital Projects Fund <br />2.1.12 WW/SS Revenue Bond 2000 Construction Fund <br />2.1.17 Library Construction Fund <br />2.1.18 Reserved <br />2.1.19 Reserved <br />2.1.20 Special Revenue <br />2.1.21 Child Safety Fund <br />2.1.22 Health Department <br />2.1.26 CJD Grant Fund <br />2.1.40 CO 1993 Construction Fund <br />2.1.41 Tax & Revenue CO 2000 Construction <br /> <br />EXHIBIT A <br />