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Section V of the policy on Authorized Financial Institutions, Depositories, and <br />Broker/Dealers sets a variety of requirements to insure the safety of our investments. <br />Section VI is reduced to Internal Controls. <br /> <br />D. Investment Parameters: <br />Section VIII on Investment Parameters was modified to include the City Council’s <br />recommendations that no more than 20% of the portfolio should be invested in securities <br />with maturities beyond five years and that at least 10% of the portfolio should be invested <br />in readily available funds. <br /> <br />Recommendation: <br />If the City Council finds the current draft of the investment policy to be acceptable, then I <br />recommend approval of the attached Resolution 6506 to adopt the investment policy. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br />Charles Hansen, Finance Director