Orange County Treasurer Considering Broader Investment Plan: The county, which has devoted its investment pool to "ultra-safe" short-term securities after losing $1.7 billion last year, will consider buying bonds with longer maturities once its recovery plan is in place, John Moorlach said. The county is looking at a short-term investment fund with an average maturity of about 45 days plus a medium-term fund with maturities of about 180 days to one year, Moorlach said. A long-term fund would have an average maturity of about three years, with no bond maturing beyond five years. The county now manages less than $6 billion in debt securities with an average maturity of four days. Moorlach said he will discuss the investment plan at a May 31 meeting of the county's oversight committee.