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CITY OF RAMSEY <br /> <br />INVESTMENT POLICY <br /> <br />SCOPE: <br /> <br />TNs investment policy applies to activities of the City of Ramsey with regard to investing the <br />financial assets of all funds, including the following: <br /> <br />General Fund <br />Special Revenue Funds <br />Debt Service Funds <br />Capital Project Funds <br />Enterprise Funds <br />Internal Service Funds <br />Trust and Agency Funds <br /> <br />INVESTMENT POLICY: <br /> <br />Effective cash management is recognized as essential to good fiscal management. This is <br />particularly true as mounting costs and expanding programs have placed ever increasing pressures <br />on local governmental revenues. The extent to which local governments can obtain investment <br />returns on funds not immediately required can help to reduce this pressure. Investment policies <br />must be well founded and uncompromisingly applied in their legal, vendor, and administrative <br />aspects. <br /> <br />It is the policy of the City of Ramsey that available funds be invested to the maximum extent <br />possible, at the highest rates obtainable at the time of investment, in conformance with the legal <br />and administrative guidelines outlined herein. <br /> <br />I. Legal .Aspects <br /> <br />Minnesota Statutes authorize and define an investment program for municipal <br />govermnent. [Exhibit 1] <br /> <br />A. Investment Instrument Authorization <br /> <br />The City of Ramsey shall invest in the following instruments allowed by Minnesota <br />Statutes: <br /> <br />United States Treasury obligations <br />Federal Agency issues <br />Repurchase Agreements [repo's] <br />Certificates of Deposit <br /> <br />/,5-8 <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />