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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 66% of the portfolio maturing overnight (see graph below), 16% of <br />the City s portfolio matures in 1 -12 months, 11% maturing in 12 -24 months and 7% maturing in 24 -36 <br />months. <br />By Investment Maturity <br />®Overnight C31-12 Months <br />012 -24 Months 24 -36 Months <br />Currently, the 3 -month T -Bill is at 0.01 % 2 -Near, at 0.21% 5 -Near, at 0.90% and, the 20 -Near is at 2.83% <br />see yield curve below). During the fiscal Near, t -bill rates peaked in Februaiy around 77 basis points for the <br />2 Year and close to 4.5% for the 20 -year. <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 />