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<br />VI1. <br /> <br />B. <br /> <br />BANKERS ACCEPTANCES: The City will only invest through the <br />15 largest banks in the United States or the 100 largest i <br />banks in the world (in terms of assets.) The maximum <br />investment with anyone institution will not exceed $3 <br />million. <br /> <br />C. <br /> <br />TREASURY BILLS AND NOTES: The City will require safekeeping <br />documentation of the treasury instrument in an acceptable <br />safekeeping account in the City's name. The maximum maturity <br />on a treasury instrument will be three years. <br /> <br />D. <br /> <br />GOVERNMENT AGENCY SECURITIES: The City will require physical <br />delivery of these securities to an acceptable safekeeping <br />account in the City's name. Examples of these securities <br />include Government National Mortgage Association, Federal <br />National Mortgage Association, Federal Land Bank, and Federal <br />Farm Credit Banks. <br /> <br />E. <br /> <br />COMMERCIAL PAPER: The City will require safekeeping <br />documentation of the security in an acceptable safekeeping <br />account in the City's name. Commercial paper will be used <br />solely as a short term investment not to exceed 15 days. A <br />rating of Standard and Poors A-lor Moodys P-1 is required. <br />The City will only invest in the largest 15 banks (in terms <br />of total assets) in the United States. The investment in any <br />one institution will not exceed $1,000,000. <br /> <br />F. <br /> <br />STATE LOCAL AGENCY INVESTMENT FUND: The investment with LAIF <br />may not, by State regulation, exceed ~~ $10 Million. <br /> <br />PASSBOOK SAVINGS ACCOUNTS: Savings accounts shall be <br />maintained for amounts under $100,000 that are received too <br />late in the day to invest in other instruments. <br /> <br />G. <br /> <br />MATURITY OF INVESTMENTS <br /> <br />With the exception of Treasury notes, the maturity of a given <br />investment will not exceed one year. Treasury notes may be <br />purchased for a period not to exceed three years. <br /> <br />Approximately 50% of the idle funds will be placed in investments <br />that can be sold for face value in the open market in the event <br />of an emergency. <br /> <br />Not more than 50% shall be invested for more than one year and <br />not more than 25% of the portfolio for more than two years. <br /> <br />Page 4 of 6 <br /> <br />11401 <br />