(A) The investment portfolio shall be designed with the objective of obtaining a rate of return throughout budgetary and economic cycles, commensurate with the investment risk constraints and the cash flow needs of the city.
(B) Market Yield (Benchmark): The city’s investment strategy is passive in nature. Given this strategy, the basis used by the Investment Committee to determine whether market yields are being achieved shall be the six month U.S. Treasury Bill and the average Fed Funds rate.
(Ord. 7346, passed 2-11-97)