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'�. z• � s <br /> B. BANKERS ACCEPTANCES: <br /> The City will only invest through the 15 largest banks in the United States or the <br /> 100 largest banks in the world (in terms of assets). The maximum investment <br /> with any one insfitution will not exceed $3 Million. <br /> C. TREASURY BILLS, NOTES, and BONDS: <br /> The City will require safekeeping documentation of the treasury instrument in an <br /> acceptable safekeeping account in fhe City's name. The maximum maturity on a <br /> treasury instrument will be three years. <br /> D. GOVERNMENT AGENCY SECURITIES: <br /> The City will require physical delivery of these securities to an acceptable <br /> safekeeping account in the City's name. Examples of these securities include <br /> Govemment National Mortgage Association, Federal National Mortgage <br /> Association, Federal Land Bank, Federal Home Loan Bank Board, and Federal <br /> Farm Credit Banks. <br /> E. COMMERCIAL PAPER: <br /> The City will require safekeeping documentation of the security in an acceptable <br /> safekeeping account in the City's name. Commercial paper will be used solely <br /> as a short term investment not to exceed 15 days. A rating of Standard and <br /> Poors A-1 or Moodys P-1 is required. The City will only invest in the largesf 15 <br /> banks (in terms of tota/ assets) in the United States. The investment in any one <br /> institution will not exceed $1 Million. <br /> F. STATE LOCAL AGENCY INVESTMENT FUND (LAIF): <br /> The investment in LAIF inay not exceed the maximum amount permitted by State <br /> regulation. <br /> G. PASSBOOK SAVINGS ACCOUNTS: <br /> Savings accounts may be maintained for amounts under $100, 000 that are <br /> received too late in the day to invest in other instruments. <br /> H. SAN MATEO COUNTY INVESTMENT POOL: <br /> The investment with the County of San Mateo Investment Pool shall not exceed <br /> $40 Million. <br /> Investment Policy <br /> Page 4 <br /> .. _, _ �_._. _ _ ..�__. . _ <br />