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COMPLIANCE WITH STATE LAW AND INVESTMENT POLICY: <br /> As of September 30, 2023, all investments in the portfolio are authorized by State of <br /> California Government Section 53600 et. Seq. and the City's investment policy. <br /> SECURITIES RATED BELOW"AA4Aa3": <br /> Issuer Par Value Maturity Date Rating (S&P/ Moody) <br /> CitiBank NA 1,000,000 1/23/2024 A <br /> PACCAR Finance Corp 1,330,000 8/15/2024 A <br /> Toyota Motor Credit Corp 1,600,000 10/7/2024 A <br /> 3M Company 2,000,000 2/14/2025 A <br /> Truist Bank 2,000,000 3/10/2025 A <br /> Toyota Motor Credit Corp 3,000,000 1/9/2026 A <br /> Total $10,930,000 <br /> QUARTER INVESTMENT DECISIONS (excluding LAIF and money market funds): <br /> Maturities <br /> Issuer Par Value Maturity Coupon (%) Yield (%) <br /> Date <br /> Toyota Motor Credit Corp $1,000,000 7/20/2023 3.419 1.800 <br /> Microsoft Corp 2,000,000 8/8/2023 2.000 3.107 <br /> $3,000,000 <br /> CURRENT INVESTMENT STRATEGY: <br /> The effective rate of return on the portfolio was 1.52 percent, an increase of 0.14 <br /> percent from 1.38 percent from last quarter and an increase of 0.28 percent from <br /> 1 .24 percent reported at the same time last year. <br /> During the first quarter of FY 2023/24, staff continued to be conservative on <br /> investment. Staff will continue to monitor cash inflows and outflows taking into <br /> consideration anticipated construction costs for large capital projects and <br /> unexpected events. <br />