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<br />INVESTMENT OBJECTIVES <br /> <br />The following investment objectives will be applied in the management of <br />City funds. <br /> <br />The investment objective order of the priority shall be safety <br />of capital, liquidity of funds, and investment income, in that <br />order. <br /> <br />2 Safety of principal is regarded as the foremost objective of the <br />investment program. Investments of the City shall be <br />undertaken in a manner that seeks to ensure the preservation of <br />capital in the overall portfolio. Each investment transaction <br />shall be entered into with every effort to prevent capital losses, <br />whether they are from securities defaults, theft, or the impact <br />of adverse market conditions. <br /> <br />3 The City will maintain sufficient liquidity to enable the City to <br />meet operating requirements, which might be reasonably <br />anticipated. <br /> <br />4 The City will employ mechanisms to reduce risks by <br />diversifying its investments between specific security types <br />and individual financial institutions. <br /> <br />5 The City will strive to maximize the return of the portfolio and <br />to preserve the purchasing power but will avoid assuming <br />unreasonable investment risk. <br /> <br />6 Funds of the City will be invested in accordance with Florida <br />State Statutes 166.261, 280, 218,415, these policies, and <br />written administrative procedures. <br /> <br />7 The funds are in general, passively invested. <br /> <br />PERFORMANCE MEASUREMENT <br /> <br />The City seeks to optimize return on investment within the constraints of <br />safety and liquidity. The investment portfolio shall be designed with the <br />objective of exceeding the average return earned on investments held by the <br /> <br />Page 2 of 12 <br />