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IV. <br />The Finance Director is designated as investment officer of the City and is responsible <br />for investment decisions and the day-to-day administration of the cash management <br />program. No person may engage in an investment transaction except as provided <br />under the terms of this policy and the procedures so established. The City may <br />request the assistance of, or, appoint an outside investment manager as "Agent" for <br />the City's cash reserves. The "Agent" for the City shall have discretion over the <br />purchase and sale of securities within and subject to compliance with this investment <br />policy. Such investment manager must be registered under the Investment Advisor <br />Act of 1940. Such firm will be a national firm with a local presence. The Finance <br />Director shall consult with the City Manager as necessary regarding the City's <br />investment activity. <br />Positions authorized as investment signatories are the City Manager, Assistant City <br />Manager - Services and Finance Director. <br />LISTING OF AUTHORIZED INVESTMENTS <br />The following investments will be permitted by this policy as consistent with Section <br />218.415 (16) F.S. Those investments not listed in this section are prohibited. <br />A. United States Government Securities <br />Negotiable direct obligations or obligations the principal and interest of which are <br />unconditionally guaranteed by the United States Government. Such securities will <br />include, but not be limited to the following: <br />➢ Treasury Bills <br />Treasury Notes <br />➢ Treasury Bonds <br />➢ Treasury Strips <br />➢ Treasury Securities — State and Local Government Series ("SLGS") <br />Treasury Inflation Protection Securities ("TIPS") <br />Portfolio Composition <br />A maximum of 100% of available funds may be invested in the United States <br />Government Securities with the exception of Treasury Strips which are limited to 10% <br />of available funds. <br />Maturity Limitations <br />The maximum length to maturity of any direct investment in the United States <br />Government Securities is ten (10) years from the date of purchase. <br />B. United States Government Agencies <br />Bonds, debentures or notes which may be subject to call, issued or guaranteed as to <br />principal and interest by the United States Governments agencies. Such securities will <br />include, but not be limited to the following: <br />4 63 <br />