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The restricted bond proceeds are invested in compliance with this <br /> investment policy and applicable bond resolutions. Individual <br /> employee retirement contribution funds and deferred <br /> compensation are excluded from this policy. <br /> 2.2 Pooling of Funds <br /> Except for cash in certain restricted and special funds, the City of <br /> Santa Ana will consolidate cash balances from all funds to maximize <br /> investment earnings and increase efficiency in investment pricing, <br /> safekeeping, and administration. Investment income will be allocated <br /> to the various funds based on their respective participation and in <br /> accordance with generally accepted accounting principles. <br /> 3.0 PRUDENCE <br /> 3.1 Standard of Care— Prudent Investor <br /> The City investment program shall be managed professionally and <br /> prudently, worthy of the public trust and review. The standard of <br /> prudence to be used by City Investment Officials shall be the "prudent <br /> investor rule" standard. It shall be applied in the context of managing <br /> the overall investment portfolio. <br /> The "prudent investor rule," pursuant to California Government Code <br /> Section 53600.3, provides that investments shall be made with <br /> judgment and care. When investing, reinvesting, or managing public <br /> funds, a trustee shall act with care, skill, prudence, and diligence <br /> under the circumstances then prevailing. Investment officers acting <br /> in accordance with written procedures and this investment policy, and <br /> exercising due diligence, shall be relieved of personal responsibility <br /> for an individual security's credit risk or market price changes, <br /> provided that deviations from exceptions are reported in a timely <br /> fashion and that the liquidity and the sale of securities are carried out <br /> in accordance with the terms of this policy. <br /> The California Government Code governs the City, Sections 16429.1 <br /> and Title 5, Division 2, Part 1, Chapter 4, entitled Financial Affairs, <br /> commencing with section 53630. Each investment transaction and <br /> the entire portfolio must comply with California Government Code, <br /> Sections 53600 and 53635 et seq., and this policy. <br /> 3.2 Written Investment Procedures <br /> City Investment Officials shall establish written procedures, consistent <br /> with this investment policy, for the operation of the investment <br /> program. Procedures should include, but not be limited to: authorized <br /> personnel, segregation of duties, internal controls, wire transfer <br /> City of Santa-Annual Page 2 July 1. 2026 - <br /> Statement of Investment Policy June 30,2027 <br />