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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 fourth <br />quarter, the City's portfolio consisted of 68% of the portfolio maturing overnight (see graph below), 5% of <br />the City's portfolio matures in 1-12 months, 24% maturing in 12-24 months and 3% maturing in 24-36 <br />months. <br />By Investment Maturity <br />3% <br />24% <br />5% 68% <br />DOvernight ®1-12Months <br />012-24 Months ®24-36 Months <br />Currently, the 3-month T-Bill is at 0.01 %; 2-year, at 0.26%; 5-year, at 0.89%; and, the 20-year is at 2.67% <br />see yield curve below). <br />Yield Curve <br />3.00% <br />2.00% <br />1.00% <br />0.00% .. ..... .... <br />.:.....:... <br />Treasury Bills <br />3 months ago .. ..current <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 />