To the extent possible, the city will attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow need, the city’s funds should not be invested in securities maturing more than five years from the date of purchase. However, the city may collateralize its repurchase agreements using longer-dated investments not to exceed ten years to maturity. Reserve funds may be invested in securities exceeding 20 years, if maturity of the investments are made to coincide as nearly as practicable with the expected use of the funds.
(Ord. 1B-1994, passed 12-13-1994)