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5. $3,750,000 Commercial Development Revenue Note of 1985 - <br />Oakcrest Develcpment Company <br />6. $17,500,000 Rental Housing Revenue Bonds of 1985 - <br />Rosepointe Housing Limited Partnership <br />7. $4,700,000 Industrial Development Revenue Note of 1985 - <br />Berger Storage and Transfer <br />Cash Management <br />Investment Policies <br />The City has written policies that restrict investment of the <br />City's operating funds to U.S. Treasuries, Agencies, and <br />Certificates of Deposit in Minnesota institutions. (See Note 5 in <br />the footnotes for further disclosure). <br />All temporary cash surpluses during the year are invested in <br />various securities which State Statutes permit. Investment <br />yields ranged from 5.9$ to 9.50� during the year. The 1987 <br />average interest rate was approximately 7.0� and resultant <br />earnings were distributed to the following fund types: <br />General <br />Special revenue <br />I. Debt service <br />' Capital projects <br />Enterprise <br />Internal Service <br />Trust and Agency <br />Total <br />$ 190,758 <br />56,531 <br />552,361 <br />954,608 <br />219,226 <br />41,042 <br />5,415 <br />S 2.021,941 <br />1987 did show a decrease in interest earnings due primarily <br />to smaller than normal capital projects cash balances and lower <br />interest rates than 1986. <br />The following is a history of earnings by year: <br />Year <br />1982 <br />1983 <br />1984 <br />1985 <br />1986 <br />1987 <br />15 <br />Earninqs <br />1,464,996 <br />1,223,593 <br />1,485,822 <br />1,483,921 <br />2,522,613 <br />2,021,941 <br />