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City of St. Louis Park <br /> Investment Policy <br /> June 5, 2000 <br /> Resolution #00-074 • <br /> C. Yield <br /> The investment portfolio shall be designed with the objective of attaining <br /> a market rate of return throughout budgetary and economic cycles, taking <br /> into account investment risk and liquidity needs. <br /> III. STANDARDS OF CARE <br /> The prudent person standard shall be applied to the management of the portfolio. <br /> This standard states: "Investments shall be made with judgment and care, under <br /> circumstances then prevailing,which persons of prudence, discretion, and <br /> intelligence exercise in the management of their own affairs,not for speculation, <br /> but for investment, considering the probable safety of their capital as well as the <br /> expected income to be derived." <br /> Investment officers acting in accordance with written procedures and this <br /> investment policy and exercising due diligence shall be relieved of personal <br /> responsibility for an individual security's credit risk or market price changes, <br /> provided deviations from expectations are reported in a timely fashion and the <br /> liquidity and the sale of securities are carried out in accordance with the terms of <br /> this policy. • <br /> IV. INVESTMENT AUTHORIZATION <br /> The Director of Finance/Treasurer is designated as the Investment Officer of the <br /> City and is responsible for investment management decisions and activities. The <br /> Director of Finance/Treasurer shall carryout established written procedures and <br /> internal controls for the operation of the investment program consistent with this <br /> investment policy. The Director of Finance/Treasurer is authorized, as allowed <br /> under the State Statute, to designate depositories and broker-dealers for City <br /> Funds. <br /> V. CONFLICT OF INTEREST <br /> Any city official involved in the investment process shall refrain from personal <br /> business activity that could conflict with proper execution of the investment <br /> program or which could impair his/her ability to make impartial investment <br /> decisions. Employees shall disclose any material interests in financial institutions <br /> with which they conduct business. Employees and officers shall refrain from <br /> undertaking personal investment transactions with the same individual with which <br /> business is conducted on behalf of the City. . <br /> 2 <br />