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Item 4D Audio1 2 3 This may be accomplished by purchasing high quality, short to medium term securities which will complement each other. A dollar weighted average maturity of 365 days or less will be calculated using the stated final maturity date of each security. 4 Securities purchased shall not have a stated maturity date which exceeds the debt service payment date. 5 These portfolios should include at least 10% in highly liquid securities to allow for flexibility and unanticipated project outlays. The stated final maturity dates of securities held should not exceed the estimated project completion date. 6 7 8 9