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EXHIBIT 1 <br />Operating Account — Monies to be used month to month for City operations. The Operating <br />Account is highly liquid to meet daily demands for the City of Casselberry. Any excess funds <br />from the Operating Account will be moved to the reserve portfolios highlighted below. Below is <br />the respective benchmark for the operating account. <br />Operating Account - Citigroup U.S. 90 -day T -Bill index <br />Liquid Reserves Portfolio — Monies to be used in the next 12 months for City expenditures. The <br />Liquid Reserves Portfolio must remain highly liquid to meet draw schedule demands for the City <br />of Casselberry as presented by the City Finance Director. The liquid reserves will be <br />commingled with funds that can be invested in securities with longer maturities to yield better <br />returns. The average quality of the portfolio must remain AA- or higher with an average maturity <br />no greater than 2.5 years. Below is the respective benchmark for the account. <br />Liquid Reserves Portfolio - Bank of America/Merrill Lynch 1-3 Government/Corporate A or <br />better <br />2.5-3 years <br />Investment Reserves Portfolio — Monies that are not designated for use in the next 12 months and <br />therefore can be invested in longer maturing securities. The Investment Reserves Portfolio can <br />tolerate modestly increased risk with the expectation of increased return. The average quality of <br />the portfolio must remain AA- or higher with an average maturity no greater than 3.5 years. <br />Below is the respective benchmark for the account. <br />Investment Reserves Portfolio — Bank of America/Merrill Lynch 1-5 Government/Corporate A <br />or better. <br />11 <br />