To meet the day-to-day operating needs of the city and to provide the ready cash to
meet unforeseen temporary cash requirements, the general operating pool shall maintain
a minimum of five hundred thousand dollars ($500,000.00) in liquid investments defined
as repurchase agreements purchased under the terms of the city's depository contract,
open repurchase agreements, negotiable certificates of deposit, banker's acceptances,
commercial paper, U.S. Treasury direct and agency obligations all having a maturity
of sixty (60) days or less, and the SBA Local Government Pool, all as purchased under
the dictates of this policy.
(Ord. No. 95-44, § 1, 12-19-95)
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