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The most current overnight rate was set on December 16, 2008 at 0.00% to 0.25 %. At the end of the third <br />quarter, the City s portfolio consisted of 72% of the portfolio maturing overnight (see graph below), 15% of <br />the City s portfolio matures in 1 -12 months, 11% maturing in 12 -24 months and 2% maturing in 24 -36 <br />months. <br />CurrentIv, the 3 -month T -Bill is at 0.04 % 2 -Near, at 0.41% 5 -Near, at 1.58% and, the 20 -Near is at 3.91% <br />see yield curve below). <br />The overnight rate is currently at 0.00% to .25 %. We will continue to focus on laddering the portfolio to <br />maintain a constant cash flow and a liquid position. <br />2 <br />