§ 39.30  DIVERSIFICATION.
   (A)   The investment portfolio shall be diversified by:
      (1)   Avoiding over-concentration in securities from a specific issuer or business sector (excluding securities issued by the United States government or an agency or instrumentality thereof);
      (2)   Investing in securities with varying maturities; and
      (3)   Continuously investing a portion of the portfolio in readily available funds such as money market funds, overnight repurchase agreements or local government investment pools to ensure appropriate liquidity is maintained in order to meet ongoing obligations.
   (B)   The maximum percentage of the portfolio permitted in each eligible security is as follows:
 
Permitted Investment
Sector
Limit
Issuer
Limit
U.S. Treasury Obligations
75%
75%
Authorized U.S. Federal Agency Securities and U.S. Government-sponsored Corporations
50%
50%
State of Ohio Obligations/State of Ohio Investment Pools
75%
75%
Nonnegotiable Certificates of Deposit
50%
50%
Money Market Mutual Funds
50%
50%
 
 
Diversification by Length of Maturity
Maximum Percent of City's Active Portfolio
1 year or less
100%
l to 3 years
50%
2 to 5 years
30%
5 years
10%
 
(1974 Code, § 39.30)  (Ord. 9-94, passed 5-2-1994; Am. Ord. 11-19, passed 5-6-2019)