Fort Walton Beach Ordinance — 1894--Investment Policy-surplus funds — reading text

YTC). Same as " Yield to Maturity," except the return is measured to the first call date rather than the maturity date. Yield to call can be significantly higher or lower than a security' s yield to maturity. Yield to Maturity ( YTM). Calculated return on an investment, assuming all cash flows from the security are reinvested at the same original yield. Can be higher or lower than the coupon rate depending on market rates and whether the security was purchased at a premium or discount. There are different conventions for calculating YTM for various types of securities. Yield to Worst ( YTW). The lowest potential yield that can be received on a bond without the issuer actually defaulting. The yield to worst is calculated by making worst -case scenario assumptions on the issue by calculating the returns that would be received .if provisions, including prepayment, call or sinking fund, are used by the issuer. This metric is used to evaluate the worst -case scenario for yield to help investors manage risks and ensure that specific income requirements will still be met even in the worst scenarios. Ordinance 1875, Adopted January 8, 2013 Page 24 of 25  City of Fort Walton Beach, FL INVESTMENT POLICY Yield. There are numerous methods of yield determination. In this glossary, see also " Current Yield," " Yield Curve," " Yield to Call" and " Yield to Maturity." Ordinance. 1875,. Adopted January. 8, 2013 Page 25 of 25  CITY OF FORT WALTON BEACH, FLORIDA NOTICE OF PUBLIC HEARING A PUBLIC HEARING will be held on the following proposed ordinance at 6: 00 p. m. o Tuesday, April 22, 2014, in the Council Chamber at Fort Walton Beach City Hall, 10 Legal 5952 i Miracle Strip Parkway, SW, at which time the City Council will consider its adoptio CITY OF FORT WAL- TON BEACH, FLORIDA NOTICE into law. The ordinance in its entirety may be inspected online at www.fwb. org or at th HEARING OF PUBLIC Office of the City Clerk during regular working hours. All interested parties may appez A PUBLIC HEARING will be held on the fol- at the meeting and be heard with respect to this proposed ordinance. lowing proposed ordi- nance at 6:00 p. m. on Tuesday, April 22, ORDINANCE 1894 2014, in the Council ! Chamber at Fort Wal- ton Beach City Hall, ; 107 Miracle Strip Park- AN ORDINANCE OF THE CITY OF FORT WALTON BEACH, FLORIDA; way, SW „ at which time the - City Council will PROVIDING FOR THE INVESTMENT POLICY OF SURPLUS FUNDS; AN> consider into law. its adoption The ordi- PROVIDING AN EFFECTIVE DATE. nance in its entirety may' be inspected online ' at www.twb.org ! or at the Office- of' the City Clerk during regu- Any person who decides to appeal any decision made with respect to any matt lar working hours. All - interested parties may 1 considered at such hearing will need a record of the proceedings, and for such purpo appear at the meeting and be heard with re- may need to ensure that a verbatim record of the proceedings is made, which reco spect to this proposed ordinance. includes the testimony and evidence upon which the appeal is to be based ( FS286. 0105) ORDINANCE 1894 The City of Fort Walton Beach adheres to the Americans with Disabilities Act and- wili THE AN ORDINANCE of CITY OF FORT make reasonable modifications for access to this meetin g u p on request. q Please call th wALTON FLORIDA, BEACH, PROVIDING FOR THE, INVEST City Clerk, Helen Spencer at 850 -833 -9509 or e -mail at clerk@fwb.org to make -, MENT ' POLICY OF SURPLUS ' FUNDS: request. For Hearing Impaired dial 1- 800 -955 -8771 ( TDD) or 1- 800 -955 -8770 ( VOICE AND PROVIDING AN EFFECTIVE DATE. or e -mail at clerk@fwb.org. Requests must be received at least 48 hours in advance o Any person who de- the meeting in order to allow the City time to provide requested service. cides to appeal, any de- cision made with ' re- spect. to any matter considered at such hearing will need a rec- ord of the proceedings, and for such purpose may need to ensure Helen Spencer that a verbatim record of City Clerk e,ewhich erecorrd in cludes . thea ^testimony 83 - 9509 i and which the evidence appeal upon is to be based FS286.0105). The City of Fort Walton Beach adheres to. the Americans with Disabil- ities Act and will make reasonable modifica- tions for access to this meeting upon . request. Please call the City Clerk, Helen Spencer' at 850- 833 -9509 or e- mail at clerk @fwb.org to make Ga request. For Hearing