§ 70-616. Maximum maturities.

Latest version.

To the extent possible, the City of New Orleans will attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the City of New Orleans will not directly invest in securities maturing more than three years from the date of purchase. However, the City of New Orleans may collateralize its repurchase agreements using longer-dated investments not to exceed ten years to maturity.

Reserve funds may be invested in securities exceeding three years if the maturity of such investments are made to coincide as nearly as practicable with the expected use of the funds.

(M.C.S., Ord. No. 18,621, §§ 1, 2, 2-5-98)

                    
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