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<br />~J <br />At the end of the third quarter, the City's portfolio consisted of 27% of the portfolio maturing <br />within 2 years and 61% maturing overnight due to the heavy investment in Texpool (see graph <br />below). A total of .88% of the City's portfolio matures in less than 2 years. <br />By Investment 1Vlaturity <br />®Overnight ~ 1-12 Months ^ 12-24 Months ^ Over 24 Months <br />Currently, the 3-month T-Bill is a 1.73%; 2 year, a 2.99%; 5 year, a 4.19%; and, the 20-year is a <br />5.65% (see yield curve below). <br />Yield Cua~ve <br />7.00% <br />5.00% <br />3.00% <br />1.00% <br />0 5 10 15 20 <br />3 Months Ago Current <br />Rates appear to have stabilized, but they still remain at low levels. The City will continue to <br />focus on laddering the portfolio to maintain a constant cash flow and a liquid position. <br />2 Year ~'-lvote <br />16.00% <br />14.00% <br />12.00% <br />10.00% <br />8.00% <br />6.00% <br />4.00% <br />2.00°.0 <br />0.00% <br />~`L ~~` ~(° ~~ ~O ~`l. ~~ ~(° aft 00 OrL <br />In summary, we will continue to invest the City's funds in conservative investments, as <br />authorized by the Public Funds Investment Act, always keeping in mind Safety first, and then <br />Liquidity and lastly Yield. <br />