A.   Diversification:
      1.   In order to reduce the risk of default, the investment portfolio of the village shall not exceed the following diversification limits: No financial institution shall hold more than twenty percent (20%) of the village investment portfolio, exclusive of U.S. treasury securities held in safekeeping, unless specifically authorized by the board of trustees or unless such investments are collateralized in accordance with the provisions of this chapter.
      2.   Commercial paper shall not exceed ten percent (10%) of the village investment portfolio.
      3.   The Illinois public treasurer's investment pool shall not exceed twenty five percent (25%) of the investment portfolio.
   B.   Maximum Maturities: To the extent possible, the village shall attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the village will not directly invest in securities maturing more than five (5) years from the date of purchase or in accordance with state and local statutes and ordinances.
   C.   Investment In Readily Available Funds: Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds such as LGIPs, money market funds, or overnight repurchase agreements to ensure that appropriate liquidity is maintained to meet ongoing obligations. (Ord. 1166, 3-15-1999)