Laserfiche WebLink
<br />2.1.45 Reserved <br />2.1.50 Consolidated Payroll <br />2.1.70 Employee's Insurance Fund <br />2.1.71 Insurance Claims Fund <br />2.1.72 Library Memorial Fund <br />2.1.73 J. A. Love Trust Fund <br />2.1.74 J. P. Poteet Trust Fund <br />2.1.75 Wilbor-Deshong Trust Fund <br />2.1.76 Gibbs Memorial <br />2.1.77 Vaughan Memorial <br /> <br />2.2 Non-Consolidated Cash Funds <br />2.1.02 Economic Development Fund <br />2.1.30 Community Development Grant Fund <br />2.1.50 Revenue Bonds Sinking Fund <br />2.1.54 CO 1993 1 & S Fund <br />2.1.55 Tax & Revenue CO 2000 I & S <br />2.1.00 All Other Funds <br /> <br />3.PRUDENCE <br /> <br />Investments shall be made with judgement and care--under circumstances then prevailing--which persons of <br />prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but <br />for investment, considering the probable safety of their capital as well as the probable income to be derived. <br /> <br />3.1 The standard of prudence to be used by investment officials shall be the "prudent person" standard and <br />shall be applied in the context of managing an overall portfolio. Investment officers acting in accordance with <br />written procedures and the investment policy and exercising due diligence shall be relieved of personal <br />responsibility for an individual security's credit risk or market price changes, provided deviations from <br />expectations are reported in a timely fashion and appropriate action is taken to control adverse 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 the <br />City shall be undertaken in a manner that seeks to insure the preservation of capital in the overall portfolio. To <br />attain this objective, diversification is required in order that potential losses on individual securities do not <br />exceed the income generated from the remainder of the portfolio. <br /> <br />4.2 LIQUIDITY: The City's investment portfolio will remain sufficiently liquid to enable the City of meet <br />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 of <br />attaining a rate of return throughout budgetary and economic cycles, commensurate with the City's investment <br />risk constraints and the cash flow characteristics of the portfolio. <br />