All participants in the investment process shall recognize that the investment program
is subject to public review and evaluation. The overall program shall be designed
and managed with a degree of professionalism worthy of the public trust. The standard
of prudence to be used by the District shall be the "prudent investor" standard and
shall be applied in the context of managing the overall portfolio. The AGM and the
delegated investment officers, acting in accordance with written procedures and this
Policy and exercising due diligence, shall be relieved of personal responsibility
for an individual security's credit risk or market price changes, provided deviations
from expectations are reported in a timely fashion and appropriate action is taken
to control adverse developments.
Investments shall be made with judgment and care, under circumstances then prevailing,
which persons of prudence, discretion and intelligence exercise in the management
of their own affairs, not for speculation, but for investment, considering the probable
safety of their capital as well as the probable income to be derived.
