It is the policy of the City of Anacortes (the city) to invest public funds in a manner which will provide maximum safety with a market rate of return over interest rate cycles, while meeting the daily cash flow demands of the city and conforming to all state and local statutes governing the investment of public funds. Cash may, at the discretion of the city treasurer, be invested separately by fund or be commingled into a common investment portfolio. The city treasurer is authorized to manage the investments described herein. (Ord. 2937 § 1, 2014)