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Commercial paper and bal~kers' acceptances must be reviewed monthly to <br />determine if the rating level has changed. The commercial paper and bankers' <br />acceptance should be reviewed for possible sale if the securities are downgraded <br />below the minimum acceptable rating levels. <br /> <br />Marking to Market <br />The market value of the portfolio shall be calculated at least quarterly and a <br />statement of the market value of the portfolio shall be issued at least mmually to <br />the governing body of the City of University City/General Fund. This will ensure <br />that review of the investment portfolio, in terms of value and price volatility, has <br />been performed. <br /> <br />VII. Policy Considerations <br /> <br />Exemption <br />Any investment currently held that does not meet the guidelines of this policy <br />shall be exempt from the requirements of this policy. At maturity or.liquidation, <br />such monies shall be reinvested only as provided by this policy. <br /> <br />Adoption <br />This policy shall be adopted by resolution of the City of University City/General <br />Fund's governing body. The policy shall be reviewed annually by the investment <br />officer and recommended changes will be presented to the governing body for <br />consideration. <br /> <br /> <br />