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G. Local Investments <br />• One hundred (100) percent of the total investment portfolio shall be invested in <br />certificates of deposit or other instruments through banks or other financial institutions. <br />These investments may be scheduled maturities, or they may be part of the investment <br />strategy of securing maximum interest rates for part of the investment portfolio. <br />H. Maximum Interest Earnings <br />After the liquidity needs, and scheduled maturity needs are satisfied, the balance of these <br />funds available for investment are placed with institutions that offer the highest rate of <br />return consistent with the maturities as determined by the City. Quotations are taken by <br />telephone for all investments, whether they are short or long term. These investments <br />must be in authorized investments. <br /> <br />• <br />3 <br />