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File Number: 13-155 <br />entity.” This language is no longer applicable due to investments in the corporate <br />sector, where the City should be prepared to not hold a security to maturity due to <br />changing market circumstances. <br />2.Page 3, IV. Investment Objectives - City Council requested a social justice objective <br />be added to the Investment Policy and staff recommends the following as the fourth <br />Objective: <br />·“Other: Investments are to be made that will bear in mind the responsibility of <br />city government to its citizens. Alternative investments which enhance the <br />quality life will be given full consideration.” <br />3.Page 8, “Performance Standards” clarified and streamlined the performance <br />standards with regard to rates of return and risk using market benchmarks. Benchmark <br />yield comparisons remain the same as last year. <br />4.Page 8, “Reporting” last sentence of last paragraph, staff strengthened the monthly <br />reporting requirement to comply with Government Section 53607, to read as follows: <br />“The Finance Director will submit a monthly transactions report on the portfolio’s activity <br />to the City Manager and City Council consistent with the requirements of the State <br />Code.” <br />5.Page 9, Appendix A <br />·Medium Term Corporate Notes - Other Requirements changed the word “and” to <br />“or”. <br />Previous City Council Action(s) <br />The Investment Policy is reviewed annually and was last reviewed by the City Council on July <br />16, 2012 by Resolution No. 2012-093. <br />ATTACHMENTS <br />None. <br />PREPARED BY: David Baum, Finance Director, Finance Department <br />Page 2 City of San Leandro Printed on 5/14/2013