§ 3.25.070. Portfolio diversification.

Latest version.

A.

City investments shall be reasonably diversified to minimize the risk of loss resulting from over concentration of investments in a specific maturity, a specific issuer, a specific class of security or a specific financial institution.

B.

The total amount of principal and accumulated interest which will be paid to the city at maturity, of all certificate of deposit, other deposits and/or repurchase agreements invested with any one financial institution shall not at any time exceed twenty percent of the total net worth of the financial institution, as shown on said financial institution's most current financial statement.

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

                    
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