Specifications include, but are not limited to: ) will manage a fixed-income portfolio of at least $45 million. Overall assets managed will be dependent on various factors including, maturity of the current portfolio assets (assets will not be sold for transition purposes alone), and the City’s assessment of the ability to perform better than other short-term options (e.g. SC LGIP). 1. Legality All investments made pursuant to this Policy shall be those authorized or permitted by S.C. Code of Laws §6-5-10 (Supp. 2008)1 , as amended. 2. Safety Safety of principal is a primary objective of this Policy. Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. The objective will be to mitigate credit risk and interest rate risk. a. Credit Risk The City will minimize credit risk, the risk of loss due to the failure of the security issuer or backer, by: • Limiting investments to the safest types of securities. • Utilizing the services of only banks or trust companies authorized to do business within the state.