The city’s primary objectives as to the investment of its funds are as follows.
(A) Safety. Investment shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. To attain this objective, diversification of the investment portfolio is required in order that potential losses on individual investments 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 which might be reasonably anticipated.
(C) Return on investment. In consideration of the other investment objectives, the city’s investment portfolio shall be maintained so as to attain a reasonable market rate of return in light of the prevailing economic circumstances.
(Ord. 1B-1994, passed 12-13-1994)