§ 3.25.031. Objectives.

Latest version.

The city investment portfolio shall be managed so that the portfolio, as a whole, meets the following objectives, which are listed in order of relative importance:
A.

Safety. Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. Speculation is strictly prohibited.

B.

Liquidity. The investment officer shall assure that funds are constantly available to meet immediate payment requirements including payroll, accounts payable and debt service and any other cash flow needs.

C.

Rate of Return. The city's investment portfolio shall be designed with the objective of attaining a market rate of return throughout the budgetary and economic cycles, taking into account the investment risk constraints and the cash flow characteristics of the portfolio.

(Ord. 95-4 (part), 1995).

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');