HomeMy WebLinkAbout1987-10-20; City Council; N/A; Report on City InvestmentsREPORT ON CITY INVESTMENTS
RECOMMENDED ACTION:
No action is required.
ITEM EXPLANATION:
State law requires that the City Treasurer report to the City Council
on a monthly basis the status of the City's investment portfolio. This
report is presented to Council each month reporting on investments held
on the first day of the month.
In summary, the City's Investment portfolio as of October
is as follows: Average
1, 198L8
Principal Interest Average Amount Rate Term
CERTIFICATES OF DEPOSIT 20,699,000 7.25 357
FEDERAL GOV'T NOTES OR BONDS 3,370,478 7.78 856
FEDERAL AGENCY NOTES OR BONDS 12,466,476 8.17 2 , 090
CORPORATE NOTES 2,979,141 8.10 768
LOCAL AGENCY INVESTMENT FUNDS 12,032,000 7.55 --
OTHER INVESTMENTS
TOTAL PORTFOLIO
366,518 5.70 -
51,913,613 7.613 $ -
These investments have been made in accordance with the City's investment
policy adopted January 2, 1985, and revised May 5, 1987
FISCAL IMPACT:
When held to maturity, the above investments will yield $
in interest revenue
9,560,275
EXHIBITS :
Detail listing of investments as of October 1, 1987.
kurrent market value = $3,406,081
2Current market value = $12,061,276 of which $322,114 represents accrued interest to September 1, 1987.
3Current market value = $3,008,057 of which $67,177 represents accrued
interest to hptember 1, 1987.
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