The primary objectives, in priority order, of the city’s investment activities shall be:
(a) Safety. Safety of principal is the foremost objective of the investment program. City investments should 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 should remain sufficiently liquid to enable it to meet all operating requirements that might be reasonably anticipated.
(c) Return on investment. The city’s investment portfolio should be designed with the objective of attaining a market rate of return throughout budgetary and economic cycles, taking into account this investment policy and the cash flow characteristics of the portfolio.
(Ord. 16-2016, passed 7-18-2016)