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<br />The most current overnight rate was set on December 16,2008 at 0.00% to 0.25%. At the end of the first <br />quarter, the City's portfolio consisted of 68% of the portfolio maturing overnight (see graph below), 4% of <br />the City's portfolio matures in 1-12 months, 22% maturing in 12-24 months and 6% maturing in 24-36 <br />months. <br /> <br />By Investment Maturity <br /> <br />6% <br /> <br />4% <br /> <br /> <br />70% <br /> <br />. Overnight <br />1112-24 Months <br /> <br />.1-12 Months <br />.24-36 Months <br /> <br />Currently, the 3-month T-Bill is at 0.14 %; 2-year, at 0.62%; 5-year, at 1.93%; and, the 20-year is at 4.17% <br />see yield curve below). <br /> <br />Yield Curve <br /> <br />5.00% <br /> <br /> <br />4.00% <br /> <br />3.00% <br /> <br />2.00% <br /> <br />1.00% <br /> <br />0.00% <br /> <br />o~ <br /><Y <br />":l <br /> <br />o~ <br />b<Y <br /> <br />...,~ .:,~ <br />" "'. <br />Treasury Bills <br /> <br />~...,~ <br /> <br />...,~ <br />,,~ <br /> <br />...,~ <br />"'~ <br /> <br />-3 months ago <br /> <br />-current <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 /> <br />2 <br />