Funds of Ogden City and RDA will be invested in accordance with the Utah money management act found at Utah Code Annotated title 51, chapter 7. These objectives of the money management act and the city in order of priority are:
A. Safety Of Principal: Safety of principal/capital is the foremost objective of the investment program. Investments shall be made to ensure the preservation of capital in the overall portfolio. Investments will be diversified by security type, by industry, by issuer, and maturity date to spread potential investment risks.
B. Liquidity: The investment portfolio will remain sufficiently liquid to enable the city to meet all operating requirements which might be reasonably anticipated. Efforts to achieve this objective will be focused on matching the term to maturity of investments with the period of availability of funds.
C. Return On Investment: The investment portfolio will be designed with the objective to earn a market rate of return throughout budget years and economic cycles, taking into account investment risk, legal requirements and cash flow needs. (Eff. 4-4-2016)