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Inveatrnerd PWcy <br />�ib3 <br />Page 2 of 6 <br />Retum on Inveshwnb Within the safety and liquidity constraints, investment portfolio shall <br />be designed to attain the market rate of return. <br />IV. AUTHORITY AND DELEGATION <br />The authority to invest City funds is assigned to the City Treasurer (Director of Finance) <br />pursuant to section 34 of the Charter of Redwood City and section 2.33.1 of the Redwood City <br />code of ordinances. <br />The Treasurer will be assisted in the management of City funds by a Deputy Treasurer <br />(designated by the Treasurer). The Deputy Treasurer will be a Finance Department employee <br />whose primary treasury responsibilities will be supporting the day -to -day treasury management <br />activities of the City. <br />V. CASH FLOW AND AVAILABILITY <br />An average amount of six months cash flow is to be maintained in immediately available <br />investments, such as the State Treasurer's Local Agency Investment Fund or a similar liquid <br />instrument. This may include commercial paper. Weekly analysis of cash flow will serve as a <br />basis for determining the maturity date of investments. <br />The Treasurer and Deputy Treasurer shall certify each month that enough liquid resources <br />(including maturities) are available to meet the next six months cash flow requirements. <br />VI. ACCEPTABLE INVESTMENT INSTRUMENTS <br />Unless expressly approved in advance by the City Council all investments must be made in <br />accordance with this policy and State of California Government Code Sections 53600 et.seq. <br />The Council may, as part of a bond issuance, direct or authorize staff to invest bond reserve <br />funds in investment instruments authorized by the California Government Code that are not <br />contained within this policy. <br />The City investment portfolio may include the following instruments: <br />• Certificates of Deposit purchased from banks <br />• Bankers Acceptances <br />• Treasury Bills, Notes, and Bonds <br />• Government Agency Securities (e.g. Federal National Mortgage Association, Government <br />National Mortgage Association, Federal Farm Credits, and Federal Home Loan Bank <br />Board) <br />• Commercial Paper <br />• State of California Local Agency Investment Fund (LAIF) <br />• Passbook Savings Accounts <br />• County of San Mateo Investment Pool <br />• Money Market Certificates <br />• Money Market Funds <br />• Corporate Notes <br />