§ 2-503. Investment objectives.

The following investment objectives will be applied in the management of the city's funds.

(a) Safety of capital. Safety of principal is the primary objective of the City of Lake Wales. Each investment shall be executed to ensure that capital (principal) losses are avoided, whether from market value fluctuations or credit erosion.

(b) Liquidity. The investment strategy must provide sufficient liquidity to meet the city's operating, payroll and capital requirements. The city's portfolio must always encompass the ability for quick conversion to cash without loss of principal to meet cash flow requirements.

(c) Return on investments. In investing public funds, the city will strive to maximize the return on the portfolio and to preserve the purchasing power but will avoid assuming unreasonable investment risk.

(Ord. No. 95-44, § 1, 12-19-95)