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MEMORANDUM <br /> DATE: November 19, 1998 <br /> TO: Mike Mornson, City Manager <br /> FROM: Roger Larson, Finance Director <br /> ITEM: INVESTMENT PORTFOLIO REPORT <br /> The following is a discussion of the City's investment procedures, rate of return, <br /> market value and information relating to the investment of public funds. <br /> What brokerage firms does the City do business with? <br /> 1) Dain Bosworth <br /> 2) 4/M Fund (Investment Insights) <br /> 3) Juran & Moody <br /> 4) John G. Kinnard <br /> 5) Dean Witter <br /> 6) Firstar St. Anthony Bank (Money Market Savings) <br /> These brokerage houses are firms with strong local and national affiliations. The City <br /> does not invest with out-of-state telephone solicitation brokers. <br /> Types of Investments: <br /> 1) Certificates of Deposit <br /> 2) Commercial Paper <br /> 3) Fannie Mae's <br /> 4) Ginnie Mae's <br /> 5) Zero Coupon Bonds <br /> 6) Federal Home Loan Mortgages <br /> 7) Government Agencies <br /> All municipal investments are governed by State Statues, which restricts the type of <br /> investments that a public entity can invest. <br /> These instruments are often referred to as safe investments, with a guaranteed rate of <br /> return. If held to maturity, the investor receives the exact rate of return as stated <br /> without loss of principal. <br />