To the extent possible, the county will attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the county will not directly invest in securities maturing more than two years from the date of purchase. However, the county may collateralize its long-term repurchase agreements using longer-dated investments not to exceed five years. Maturities of collateral on short-term repurchase agreements or “sweep” accounts may exceed five years. Reserve funds may be invested in securities exceeding two years if the maturity of investments are made to coincide as nearly as practicable with the expected use of the funds.
(‘77 Code, § 8-96) (Ord. 1592, passed 3-16-92)