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1.0 Policy <br /> It is the City of Everett's policy to invest its funds in a manner which will provide <br /> maximum security, meet daily cash flow demands, conform to all state statutes and <br /> local ordinances governing the investment of public funds, and provide a market rate <br /> of return through budgetary and economic cycles. <br /> 2.0 Scope <br /> This Investment Policy, adopted by the Everett City Council, supersedes any previous <br /> Investment Policy and applies to all financial assets of the City, except the Police and <br /> Fire Pension Funds, which are covered under separate investment policies. Funds <br /> covered under this policy include: <br /> • General Fund <br /> • Special Revenue Funds <br /> • Debt Service Funds <br /> • Capital Projects Funds <br /> • Enterprise Funds <br /> • Internal Service Funds <br /> • Fiduciary Funds, including the current portion of the Pension Trust Funds, <br /> Expendable Trust Funds, and Agency Funds <br /> These funds are accounted for in the Comprehensive Annual Financial Report. <br /> 3.0 Standards of Care <br /> Investments shall be made with judgment and care— under circumstances then <br /> prevailing—which persons of prudence, discretion, and intelligence exercise in the <br /> management of their own affairs, not for speculation, but for investment, considering <br /> the probable safety of the City's capital as well as the probable income to be derived. <br /> The standard of prudence to be used by investment officials shall be the prudent <br /> person or"prudent investor" standard and shall be applied in the context of managing <br /> an overall portfolio under prevailing economic conditions at the moment of investment <br /> commitments. Investment officials acting in accordance with written procedures and <br /> the investment policy, and exercising due diligence shall be relieved of personal <br /> responsibility for an individual security's credit risk or market price change, provided <br /> deviations from expectations are reported and efforts are made to control adverse <br /> developments. <br /> 4.0 Objectives <br /> The primary objectives, in priority order, of the City's investment activities shall be: <br /> 2 I City of Everett Investment Policy (2017) <br />