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A. Short-Term Investments. Twenty-five percent of all short-term investments should be available on demand in checking accounts, money market accounts, or in common investment pools. An additional 25 percent of all short-term investments should mature within 180 days, and the remainder should mature within one year.

B. Long-Term Reserve Investments. The average maturity of all long-term reserve investments shall not exceed 10 years. With the exception of mortgage-backed securities, no long-term reserve investment may have a maturity in excess of 15 years. Twenty-five percent of all long-term reserve investments should mature within one to five years. (Ord. 07-08-164 § 4)