The primary objectives of this investment policy, in order of priority, shall be:
(A) Safety: Safety of principal is the foremost objective of the investment program. Investments of the city shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. To attain this objective, diversification is required in order that potential losses on individual securities do not exceed the income generated from the remainder of the portfolio.
(B) Liquidity: The city’s investment portfolio will remain sufficiently liquid to enable the city to meet all operating requirements which might be reasonably anticipated.
(C) Return on Investments: The city’s investment portfolio shall be designed with the objective of attaining a rate of return through budgetary and economic cycles, commensurate with the city’s investment risk constraints and the cash flow characteristics of the portfolio.
(Ord. 7346, passed 2-11-97)