(a) It is the purpose of this statement to set forth the public policies of the city relating to the investment of public monies, and establish procedural requirements as to investment management practice.
(b) The objective of the investment policy and program of the city shall be as follows.
(1) The safeguarding of all public monies shall be of the highest priority. Public money shall not be invested or managed in any matter which would jeopardize the safety of the principal.
(2) Consistent with the requirement of safety, the objective of the investment program shall be to aggressively manage and invest all public monies to maximize net earnings, consistent with the public responsibility to secure maximum, safe investment return possible from monies assigned to its stewardship, to relieve demands on the property tax, and to otherwise reduce the cost of public services.
(1987 Code, § 1-701)