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The most current overnight rate was set onDecember 16, 2008at 0.00% to 0.25%.At the end of the second <br />quarter, the City’s portfolio consisted of 82% of the portfolio maturing overnight (see graph below), 7% of <br />the City’s portfolio matures in 1-12 months, 11%maturing in 12-24 months. <br />By Investment Maturity <br />11% <br />7% <br />82% <br />Overnight1-12 Months12-24 Months <br /> <br />Currently, the 3-month T-Bill is at 0.08%; 2-year, at 0.34%; 5-year, at 1.02%; and, the 20-year is at 2.94% <br />see yield curve below). <br />Yield Curve <br />4.00% <br />3.00% <br />2.00% <br />1.00% <br />0.00% <br />Treasury Bills <br />3 months agocurrent <br /> <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 /> <br />