The investment portfolio will be managed to the extent reasonably possible within parameters specified within the policy. The portfolio should obtain a comparable rate of return during a market/economic environment of stable interest rates. Portfolio performance should be compared to benchmarks with similar maturity, liquidity and credit quality as the portfolio. However, nothing in these performance standards shall be deemed to require the Treasurer to invest municipal funds in financial institutions not having business locations within the corporate limits of the City of LaSalle as long as said investments are otherwise legally appropriate. Funds may be invested in financial institutions not having facilities within the City of LaSalle upon the recommendation of the City Treasurer or the Mayor, and the concurrence of the LaSalle City Council. The City of LaSalle has been historically and remains at present supported by local financial institutions and deems it to be in the best interests of the City of LaSalle and its citizens to support those local financial institutions having a physical presence in the City of LaSalle to the extent deemed reasonably feasible.
(Ord. 1691, passed 12-13-1999)