In selecting financial institutions and investment instruments to be used, the following general objectives should be considered in the priority listed:
(A) Legality; conforming with all legal requirements;
(B) Safety; preserving capital and including diversification appropriate to the nature and amount of the funds;
(C) Liquidity; maintaining sufficient liquidity to meet current obligations and those reasonably to be anticipated;
(D) Yield; attaining a market rate of return on investments; and
(E) Simplicity of management.
(Prior Code, § 1-5-15)