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INVESTMENT POLICY <br />Revised January 2004 <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 a resonable <br />investment return with the maximum security while meeting the daily cash flow demands of the entity and <br />conforming to 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 <br />are matched with adequate investment liquidity. The secondary objective is to create a portfolio structure <br />which will experience minimal volatility during economic cycles. This may be accomplished by purchasing <br />high quality, short to medium securities which will complement each other in a laddered maturity <br />structure. The 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 <br />investment liquidity adequate to cover the debt service obligation on the required payment date. <br />Securities purchased shall 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 <br />generate a dependable revenue stream to the appropriate debt service fund from securities with a low <br />degree of volatility. Securities should be of high quality and consistent with bond ordinance requirements. <br />Short to medium maturities generally meet these requirements. <br /> <br />Investment strategies for special projects or special purpose funds will have as their primary objective to <br />assure that anticipated cash flows are matched with adequate investment liquidity. The stated final <br />maturity dates of securities held should not exceed the estimated project or purpose completion date. <br /> <br />2.O 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 <br />2.1.10 <br />2.1.11 <br />2.1.12 <br />2.1.20 <br />2.1.21 <br />2.1.22 <br />2.1.26 <br />2.1.40 <br />2.1.41 <br />2.1.42 <br /> <br />General Fund <br />Water and Sewer Fund <br />Capital Projects Fund <br />WW/SS Revenue Bond 2000 Construction Fund <br />Special Revenue <br />Child Safety Fund <br />Health Department <br />CJD Grant Fund <br />CO 1993 Construction Fund <br />Tax & Revenue CO 2000 Construction <br />CO Series 2002 Construction Fund <br /> <br /> <br />