The primary objectives, in priority order, of the city investment activities shall be:
(A) Safety. Safety of principal is the foremost objective of the investment program. Investments of the city shall be undertaken in a way that seeks to ensure the preservation of capital in the overall portfolio. To attain this objective, diversification is required so potential losses on individual securities do not exceed the income generated from the remainder of the portfolio;
(B) Liquidity. The city’s investment portfolio shall remain sufficiently liquid to enable the city to meet all operating requirements that might be reasonably anticipated; and
(C) Return on investment. The city’s investment portfolio shall designed with the objective of obtaining a market rate of return throughout budgetary and economic cycles considering the city’s investment risk constraints and the cash flow characteristics of the portfolio.
(Ord. 521, passed 6-13-2006)