The City will attempt to match the maturity of its investments with anticipated cash requirements. Unless the proposed investment is matched to a specific cash requirement for debt service on the City's outstanding bonded indebtedness, the City will not invest directly in Authorized Investments that mature more than three years from the date of purchase. If the investment is matched to a specific cash requirement for such debt service, the City may invest in Authorized Investments with a maturity of up to seven years from the date of purchase. The City will not invest in Repurchase Agreements that have a term in excess of thirty days. Unless otherwise provided in the ordinance authorizing the issuance and sale and purchase by the City of the particular City's Securities, the City will not invest in City's Securities that mature more than one year from the date of purchase except City's Securities that (i) are in anticipation of the levy and collection of special assessments to pay costs of Assessed Services, as defined in Section 907.01, and (ii) mature not later than three years from the date of purchase.
(Ord. 361-07. Passed 6-26-07.)