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• 5. Return: Investments should generate total returns that are competitive within the <br /> parameters(above)for liquidity and risk tolerance. <br /> 6. Performance Benchmark: 30-day T Bill. <br /> 7. Authorized Investments and Guidelines: Subject to Minnesota Statutes Chapter <br /> 118A,the following investments are authorized: <br /> Weighting Constraints <br /> Commercial Paper Up to 100% Maximum of$SMM in a single issuer <br /> Bankers Acceptances Up to 50% Maximum of$SMM in a single issuer <br /> Certificates of Up to $10MM* Collateralized at <br /> Deposit 110%; one year maximum term <br /> Repurchase Up to 100% A Master Repurchase Agreement must <br /> Agreements be executed with the counter party. <br /> 102%collateral required. <br /> Treasury Bills Up to 100% <br /> Agency Notes Up to 100% No more than 20%of total portfolio <br /> per agency <br /> Money Market Funds Up to 100% S.E.C. Rule 2a7 <br /> *The maximum holding of CDs in the total portfolio, including the daily and <br /> intermediate, shall not exceed $10 million. <br /> 8. Diversification: Subject to the guidelines in A 7 (above),the Daily Portfolio <br /> should be diversified to eliminate the risk of loss resulting from over- <br /> concentration of assets in a specific issuer,maturity or class of securities. <br /> 9. Commercial Paper: At the time of purchase, securities from a single issuer shall <br /> not exceed 5%(or the lesser of$5MM per issuer) of the total daily portfolio and <br /> shall be rated the highest credit quality by two of the following rating agencies: <br /> Standard and Poor(A-1),Fitch (F 1), and Moody's(P-1). In the event that the 5% <br /> a issuer guideline is exceeded through trading activities,written notification shall <br /> be made to the Director of the Office of Financial Services and made available to <br /> the City Council and Mayor. <br /> • 13 <br />