To protect public funds from market yield losses resulting from rising interest rates, the city will limit the maximum term of maturity. To the extent possible, the city will attempt to match its investments with anticipated cash flow requirements. In order to maintain liquidity, no more than 70% of the portfolio will have a maturity in excess of one year. Unless matched to specific cash flow, the city will not directly invest in securities maturing more than five years from the date of purchase.
(Ord. 16-21, passed 6-8-21)