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TheCityisnotauthorizedbySection2256.014(c)oftheActto: <br /> investintheaggregatemorethan15percentofitsmonthlyaveragefundbalance, <br />excludingbondproceedsandreservesinotherfundsheldfordebtservice,inmutual <br />fundsdescribedintheAct(Section2256.014); <br /> investanyportionofbondproceeds,reservesandfundsheldfordebtservice,in <br />mutualfundsdescribedintheAct(Section2256.014);or <br /> investitsfundsorfundsunderitscontrol,includingbondproceedsandreservesand <br />otherfundsheldfordebtservice,inanyonemutualfunddescribedin <br />theAct(Section <br />2256.014)inanamountthatexceeds10percentofthetotalassetsofthemutual <br />fund. <br />D. INVESTMENTPOOLS <br />Investmentpools,asauthorizedbytheCityCouncil,mustbeAAAorAAAMrated,oran <br />equivalentratingbyatleastonenationallyrecognizedratingservice.Apublicfunds <br />investmentpoolthatusesamortizedcostorfairvalueaccountingmustmarkitsportfolio <br />tomarketdaily,andtotheextentreasonablypossible,stabilizeata$1.00netassetvalue, <br />whenroundedandexpressedtotwodecimalplaces.Tomaintaineligibilitytoreceive <br />fundsfromandinvestonbehalfoftheCity,aninvestmentpoolmustadheretoreporting <br />andinvestmentrequirementsdefinedbySection2256.016oftheAct. <br />EXISTINGINVESTMENTSTheInvestmentOfficerisnotrequiredtoliquidateinvestmentsthat <br />wereauthorizedinvestmentsatthetimeofpurchase.Anyinvestmentscurrentlyheldthatdonot <br />meettheguidelinesofthispolicyshallbereviewedtodeterminetheabilitytoliquidate.An <br />investmentthatrequiresaminimumratingunderthissubchapterdoesnotqualifyasan <br />authorizedinvestmentduringtheperiodtheinvestmentdoesnothavetheminimumrating.An <br />entityshalltakeallprudentmeasuresthatareconsistentwithitsinvestmentpolicytoliquidate <br />aninvestmentthatdoesnothavetheminimumrating.Iftheinvestmentcannotbeliquidated <br />becauseofmaterialadversechangeinthevaluesincethetimeofpurchase,andholdingthe <br />investmenttomaturitydoesnotnegativelyaffectdisbursementsorcashflow,arecommendation <br />ofholdingsaidinvestmenttomaturityisacceptable. <br />MAXIMUMMATURITIESThemaximumstatedmaturity,fromthedateofpurchase,forany <br />individualinvestmentmaynotexceed5yearsandthemaximumdollarweightedaverage <br />maturityforthepooledfundgroup(investmentportfolio)maynotexceed2years. <br />DIVERSIFICATIONItisthepolicyoftheCitytodiversifyitsinvestmentportfolios.Assetsheldin <br />thepooledinvestmentportfolioshallbediversifiedtoeliminatetheriskoflossresultingfrom <br />overconcentrationofassetsinaspecificmaturity,specificissuerorspecificclassofsecurities. <br />DiversificationstrategiesshallbedeterminedandrevisedperiodicallybytheFiscalAffairs <br />Committee. <br /> <br /> <br />