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1 101 iiljk.il� RJEO" 7*0 <br />debt service shall be invested to ensure a rate of return at least equal to the interest being paid on tLze! <br />bonds. <br />Dcle&g- <br />:ion of Autho <br />The finance dircetor is designated as investment officer of the City and is responsible for investment <br />decisions and activitiesl under the direction of the City manager. <br />The investment officer, acting in accordance with written procedures and exercising due diligence, shall <br />not be held personally responsible for a specific securitys credit risk or market price changes, provided <br />that these deviations are reported immediately and that appropriate action i's taken to control adverse <br />developments. <br />Monitoring pd Adiustin the Portfolio <br />The investment officer will routinely monitor the contents of the portfolio, the available markets and the <br />relative values of competing instruments and will adjust the portfolio accordingly. <br />E3 Investments made by investment officer <br />L) Records maintenance by a finance staff member other than investment ofEcer <br />L3 Review and reconciliation by the assistant finance director <br />Portfolio Manggement <br />Under the 1999 Fiscal Policiesl it shall be the City's procedure to restrict investments to only Repurchas,,i. <br />Agreements with national or state chartered banks, U.S. Treasury and U.S. Government Agencies. <br />The procedures shall consist of yield curve analysi's and implemented with the appropriate purchase of <br />the above investments,, <br />Maturity schedulm'g shall be within those investments and in a manner that will maximize yield and <br />0 a <br />liquty and minimize interest rate risk. <br />MILE <br />