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Investment Policy <br /> • <br /> Diversification <br /> The City of Oak Grove will attempt to diversity its investments according to type and <br /> maturity. The portfolio, as much as possible,will contain both short-term and long-term <br /> investments. The City will attempt to match its investments with anticipated cash flow <br /> requirements. Extended maturities may be utilized to take advantage of higher yields; <br /> however, no more than 50% of the total investments as of December 31 each year, should <br /> extend beyond five (5) years and in no circumstance should any extend beyond 10 years. <br /> Investment Reporting <br /> The City Administrator shall prepare an investment report at least quarterly, including a <br /> management summary that provides a clear picture of the status of the current investment <br /> portfolio and transactions made over the last quarter. <br /> Conclusion • <br /> The intent of this policy is to ensure the safety of all City funds. The main goal of the <br /> City will be to achieve a market rate of return while maintaining the safety of its <br /> principal. <br /> Approved by the Oak Grove City Council <br /> Date: September 29, 1997 <br /> Revised by City Council on April 30, 2007 <br /> • <br /> Page 6 of 6 <br />