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<br />EXHIBIT A <br /> <br />CITY OF LOUISVILLE, COLORADO <br />INVESTMENT POLICIES <br /> <br /> <br />SCOPE <br />This investment policy applies to activities of the city with <br />regard to investing the financial assets of all funds, including <br />the following: <br /> <br />General Fund <br />Special Revenue Fund <br />Capital Projects Funds <br />Enterprises Funds (Sewer, Water and Golf Course Funds) <br />Debt Service Funds <br /> <br />OBJECTIVES <br />Funds of the city will be invested in accordance with State Law <br />and in a manner designed to accomplish the following objectives: <br />ensure the safety of funds, ensure that adequate funds are <br />available at all times to meet the financial obligations of the <br />city when due, earn a market rate of return on the funds <br />available for investment throughout the budget cycle. <br /> <br />DELEGATION OF AUTHORITY <br />The finance director is designated as investment officer of the <br />city and is responsible for investment decisions and activities, <br />under the direction of the city administrator. <br /> <br />PRUDENCE <br />The standard of prudence to be applied by the investment officer <br />shall be the "prudent person" rule, which states, "Investments <br />shall be made with jUdgment and care, under circumstances then <br />prevailing, which persons of prudence, discretion and <br />intelligence exercise in the management of their own affairs, not <br />for speculation, but for investment, considering the probable <br />safety of their capital as well as the probable income to be <br />derived." The prudent person rule shall be applied in the <br />context of managing the overall portfolio. <br /> <br />ELIGIBLE DEPOSITORIES <br />In selecting depositories the creditworthiness of the institution <br />will be considered, including at least credit characteristics and <br />financial history. Depositories must be headquartered within the <br />state of Colorado, with preference given to Louisville financial <br />institutions, and must conform to all other requirements of C.R.S. <br />11-10.5. (The Public Protection Act). <br /> <br />ELIGIBLE SECURITIES BROKERS/DEALERS <br />For brokers and dealers of government securities, the city shall <br />select only security dealers that are registered with the NASD. <br />(National Association of Securities Dealers). <br />