Maturities shall be in compliance with Policy 6.1. Speculation on interest rates and other price changes is strictly forbidden as is leveraging of the portfolio. Investments shall be made with the exercise of that judgement and care, under circumstances then prevailing, which persons of prudence, discretion, and intelli gence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived. Treasury personnel shall act in strict accordance with State laws and City ordinances governing ethics and conflicts of interest. Local improvement district bonds provided under Chapter 17, Title 50, Idaho Code.
Time deposit accounts with public depositories.
Money market funds, mutual funds, or any other similar funds whose portfolios consist of any allowed instrument as specified in this section. Any funds that are not matched to a specific cash flow or other specific purpose allowed by law or City Council resolution, shall not be directly invested in securities maturing more than 10 years from the date of purchase. Maximum maturities for securities purchased under a repurchase agreement shall be as set forth in Policy 12.0. Short-term investments in repurchase agreements are defined as those investments maturing in less than five calendar days. Repurchase agreements with maturities greater than five days are considered long-term.