§ 2-98. Portfolio, liquidity, maturity and diversification.

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The bulk of the town's financial assets should be held in shorter term maturities, anywhere from overnight to three years. The town will maintain a liquidity base of cash and short term investments such as overnight repurchase agreements and the State of Florida Local Government Surplus Funds Pool. It is expected that the Town Official(s) will structure a tiered portfolio, with some very short term securities and some securities with longer maturities. Maturities longer than five to seven years should be held in very limited amounts in the portfolio. In no event may a security with a maturity exceeding ten years be included in the portfolio.

(Ord. No. C-259, § 8, 12-4-95; Ord. No. C-411 , § 2, 5-2-2016)

                    
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