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'lam(or-1 i tcut <br />INFORMATION <br />City a! <br />Elk -.--~ <br />River <br />MEMORAPIDUM <br />~~ a~or and v~nc~~ ~~b~~r~ <br /> <br />~~~E: anna~~y ~, ~0~9 <br />SUBJECT: Quarterly Investment Repar~ <br />~'~~]~~: <br />The ~uoe a~ this ~ep~~t ~s to ud~,te the iT c~u~c ~ ~e ~~s ~~' ~~e ~a~€ous <br />in~~~ts that the ~it~~ a..tai.n. '~~ ~e~~~t ~ ~ ~~'ecebe~ ~~, ~~aS. <br />B.~R~~: <br />The it ~u~C~ aC~Dpted ~~~ o~l~l~~ ~D~C~r on .~~ ?~, ~~9~ ~~. subsequent <br />~d~b.ati~n can ~b~uat 5, ?~~~. The ~alie~r enera~ll~t ~ollo~~rs ~.~ ~~~~n~n~nt .an.ce <br />~~'ee~ r~ac~d.on ~~.} ~.adel and die ~~~np~~t ~, tt~ Stat~t~. <br />The ~n~estent gals ~~~ ~ ~~~ ~~' ~u~ ~~~ e~ aye pass~~re ~ nature due to the a~~4~rable <br />v~t~~nt ~~~n~.tted nde~ State S~atut~~ ~"~~ ~~r has ~'QUx objectives ~~r ~n~et~n ~ <br />o~de~ o~ ~pv,~tan~~. They ~~~ a~~r off' p~.ncia~, liquid~t~T, ~etuxn on ~ri~fiestment, and <br />~t~ the ~ub~e txust. This means ~~ aye ~~~u~d on nit ~r~i ~~ ~ ~~~a~ <br />vest~net, haven su~cient fund ~n ~~and to meet on~~ ~pe~at~n cash ~eed~, etn ~ <br />~.axket ~•ate ~~ ~etn, end ~~t pu~chasi speculative ~nvest~~ents. <br />State Statutes lit the lt~r's abl~at~t t~ i~,vst . r~a~r ~k~r t~~ae o£ lnvet.ents. The ltd <br />dae nit p~xch~se stocks ~~ mutual funds, T'he ~~ is enera~~~ l~.ted to ~`ederal and state <br />o~ ern~..e~t ~blla~~~s o~ agencies backed b~; theme, The i~ can invest In ha~:t~te~ <br />ca~ne~cial peg ~hl~! gated}, e~ti~cate ~f ~ep~slt ~r rr~one~r n~ar~et accounts ~~th <br />~llate~~lati~n ~~' excess off` ~~I insurance arnaunt}, and the gated debt ~f ~r~.z~esc~ta <br />~` i y..r` <br />4+~iwA~~4 <br />Thy Cif t~~ds to hold ~nvest~nents unto n~at~xit~t, ~v~uch means eve ~~ het tl~e ~at~ ~f <br />~~~ ~'~~ ~vhich eve ,vest ~ Funds. Crux real ~~ not to extend ~u~ maturities be~~~nd her <br />~rea~ unless ~~~ aye atc~~in gash ~~~ to a secic debt se~ice a~Tent. <br />