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  <br />As expected, new investments purchased during the 3rd Quarter of 2022, yield a higher interest. <br />The City purchased eleven new securities since the beginning of the year at an average yield of <br />2.838%. The Federal Reserve has significantly increased the rates and it is expected to continue in <br />the next few months. As a result, the City would be reinvesting any available balances, that are not <br />needed for operations, at higher interest rates than previous quarters. <br /> <br />I am happy to answer any questions regarding the City’s finances and this report. <br /> <br /> <br />