§ 2-223. Investment objectives.  


Latest version.
  • (a)

    Safety of capital. Safety of capital is regarded as the highest priority in the handling of investments for the town. All other investment objectives are secondary to the safety of capital. Each investment transaction shall seek to first ensure that capital losses are avoided, whether they be from securities defaults or erosion of market value.

    (b)

    Liquidity. The town's investment portfolio will remain sufficiently liquid to enable the town to meet all operating requirements which might be reasonably anticipated.

    (c)

    Yield. In investing public funds, the town will strive to maximize the return on the portfolio but will avoid the assuming of unreasonable risk.

(Code 1999, § 2-222; Ord. No. 2001-02, § 1, 2-27-2001)