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<br />Consulting Services Agreement between City of San Leandro and 7/1/2021 <br />Chandler Asset Management for Investment Services Exhibit F – Page 3 of 19 <br /> <br /> <br />IV. Investment Objectives <br />1. Safety: Safety of principal is the foremost objective of the investment program. <br />Investments shall be undertaken in a manner that seeks to ensure the preservation of <br />capital in the overall portfolio. The objective will be to mitigate credit risk and interest <br />rate risk. <br /> <br />2. Liquidity: The investment portfolio shall remain sufficiently liquid to meet all operating <br />requirements that may be reasonably anticipated. <br /> <br />3. Yield: The investment portfolio shall be designed with the objective of attaining a <br />market rate of return throughout budgetary and economic cycles, taking into account <br />the investment risk constraints for safety and liquidity needs. Return on investment is <br />of least importance compared to the safety and liquidity of the City’s assets as described <br />above. <br /> <br />4. Other: Investments are to be made that will bear in mind the responsibility of city <br />government to its citizens. Alternative investments which enhance the quality of life <br />will be given full consideration. <br /> <br />V. Investment Criteria <br />The City invests its funds in accordance with the following criteria: <br /> <br />1. Ensure that funds not needed for current City obligations are fully <br />invested at all times. <br /> <br />2. Ensure that yield-restricted funds are monitored to ensure <br />compliance with federal arbitrage rebate requirements. <br /> <br />3. Ensure that the specific requirements outlined in the Bond Indentures <br />of Trust are maintained. <br /> <br />VI. Ethics and Conflicts of Interest <br />Officers and employees involved in the investment process will refrain from personal business <br />activity that would conflict with the proper execution of the investment program, or would impair <br />their ability to make impartial investment decisions. Employees and investment officials will <br />disclose to the Finance Director any material interests in financial institutions that conduct business <br />with the City of San Leandro. Furthermore, they will disclose any personal financial/investment <br />positions that could be related to the financial performance of the City, particularly at the time of <br />investment purchases and sales. Investment officers and employees who fail to comply with this <br />disclosure requirement will be subject to administrative action. <br />144