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i <br /> FUNDS ON HAND <br /> As of December 31, 2000 <br /> Fund Cash and Investments <br /> General $ 910,181 <br /> Special Revenue 241,241 <br /> HRA Fund 732,469 <br /> Capital Equipment 270,140 <br /> Debt Service: <br /> Taxes and Special Assessments 799,070 <br /> Tax Increment 1,468,649 <br /> Capital Projects 139,423 <br /> Community Center 76,297 <br /> Enterprise 6,227,414 <br /> Miscellaneous 148,673 <br /> Total $11,013,557 <br /> INVESTMENTS <br /> The City's current investments are in accordance with Minnesota State Statutes compliance <br /> requirements sections 118.01, 471.56 and 475.66. In addition, the City has an investment <br /> policy for Mortgage Backed Securities which does not permit the City to invest in the following <br /> high risk securities (as defined in Minnesota Statutes, Chapter 475.66, Subdivision 5): <br /> 1. Interest-only or Principal-only backed securities. <br /> 2. Any mortgage derivative security that: <br /> a. has an expected average life greater than ten years; <br /> b. has an expected average life which will extend more than four years as the result of <br /> an immediate and parallel shift in the yield curve of plus 300 basis; <br /> c. has an expected average life which will shorten by more than six years as the result <br /> of an immediate and sustained parallel shift in the yield curve of minus 300 basis I <br /> points; <br /> d. will have an estimated change in price of more than 17 percent, as the result of an 1 <br /> immediate and sustained parallel shift in the yield curve of plus or minus 300 basis <br /> points. <br /> Investment firms are required to repurchase any and all securities which do not comply with <br /> Minnesota State Statutes, Sections 118.01, 471.56 and 475.66, or the City's investment policy <br /> with regard to high risk, at full face value of the purchase price. <br /> • <br /> - 14 - <br />