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dollar- weighted average maturity for the pooled fund group (investment portfolio) may not <br /> exceed 2 years. <br /> DIVERSIFICATION It is the policy of the City of La Porte to diversify its investment portfolios. <br /> Assets held in the eennen-pooled investment portfolio shall be diversified to eliminate the risk <br /> of loss resulting from eee -over- concentration of assets in a specific maturity, e- specific issuer or a <br /> specific class of securities. Diversification strategies shall be determined and revised periodically <br /> by the Fiscal Affairs Committee. <br /> In establishing specific diversification strategies, the following general policies and constraints <br /> ski <br /> . - . - - . - - -- <br /> sector. Securities shall be selected which provide for stability of income and reasonable <br /> liquidity. The City shall continually invest a portion of the portfolio in readily available <br /> ongoing obligations. <br /> Treasury bill and notes, or insured and collateralized certificates of deposits. The Fiscal <br /> Affairs Committee shall condu . • •• • - . - - - - _ . - , . <br /> FINANCIAL INSTRUMENTS Maximum allowable percentages of the total portfolio for <br /> investments are stated as follows: <br /> Investment Type Maximum Limit <br /> 1. Investment Pools 100% <br /> 2. Money Market Accounts 10% <br /> 3. Certificates of Deposit 60% <br /> 4. U.S. Government Securities 80% <br /> 5. U.S. Agency Securities 80% <br /> 3- M Securities 20% <br /> 7. Repurchase Agreements 50% <br /> 8. Bankers' Acceptances Beads 3320% <br /> 9. Commercial Paper 3325% <br /> IVII. SELECTION OF FINANCIAL INSTITUTIONS AND <br /> BROKER DEALERS <br /> BIDDING PROCESSSELECTION OF FINANCIAL INSTITUTIONS — Depositories shall be <br /> selected through the City's banking services procurement process, which shall include a formal <br /> request for proposal (RFP) issued every five (5) years. In selecting depositories, the services <br /> available, service costs, and the credit worthiness of institutions shall be considered, and the <br /> Director of Finance shall conduct a comprehensive review of prospective depositories' credit <br /> characteristics and financial history. <br /> 9 <br />