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APPENDIX IV <br />CITY OF SPRINGFIELD <br />INVESTMENT AND PORTFOLIO POLICIES <br />NOVEMBER 1997 <br />Date of Last Adoption: 12/01/1997 <br />SCOPE <br />This investment policy applies to all cash-related assets included within the scope of the City of <br />Springfield's audited financial statements and held directly by the City. The City's portfolio, <br />excluding bond proceeds, is currently $41 million. The average monthly balance of funds <br />invested, excluding bond proceeds, is about $42.5 million. <br />Funds held in trust for the Pension Portfolios and deferred compensation funds for the <br />Employees of the City of Springfield, which have separate rules, are excluded from these <br />policies. In addition, funds held by trustees or fiscal agents are excluded from these rules; <br />however, all funds are subject to regulations established by the State of Oregon. <br />Funds will be invested in compliance with the provisions of, but not necessarily limited to the <br />Oregon Revised Statutes (ORS), Chapter 294, other applicable statutes and this policy. <br />Investment of any tax exempt borrowing proceeds and any related debt service funds will <br />comply with the arbitrage restrictions in all applicable Internal Revenue Codes. <br />INVESTMENT OBJECTIVES <br />The City will limit investment activities in order to ensure safety, legality, liquidity, diversity, <br />and yield: <br />• Safety: Preservation of capital and the protection of principal. <br />• Legality: Conformance with federal, state, and other legal requirements. <br />• Liquidity: Maintenance of sufficient liquidity to meet operating requirements. <br />• Diversity: Avoidance of imprudent credit, market, and speculative risk. <br />• Yield: Attainment of a market rate of return throughout all economic and fiscal cycles. <br />The City will not assume unreasonable investment risk to obtain investment income. <br />DELEGATION OF AUTHORITY <br />The Deputy Treasurer is the designated investment officer of the City of Springfield and is <br />responsible for investment decisions, under review of the City of Springfield's Council. The <br />2005 MWMC Financial Plan -Appendix IV Page 45 <br />