(A) (1) The investment portfolio will be managed in accordance with the parameters specified within this policy.
(2) The portfolio should obtain a market average rate of return during a market/economic environment of stable interest rates.
(B) (1) A series of appropriate benchmarks shall be established against which portfolio performance shall be compared on a regular basis.
(2) The benchmarks shall be reflective of the actual securities being purchased and risks undertaken and the benchmarks shall have a similar weighted average maturity and credit profile as the portfolio.
(Ord. 2021-04, passed 1-19-2021)