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6.A. -Page 10 of 40 CITY OF REDWOOD CITY INVESTMENT POLICY Federal agency or United States government-sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government-sponsored enterprises. C. LOCAL AGENCY INVESTMENT FUND (LAIF) — Maximum $6 -5 -M -75M per account (current State rules) The City may invest in the LAIF established by the State Treasurer for the benefit of local agencies up to the maximum permitted under its rules. Effective January 1, 2020, the LAIF limit will increase from $65 to $75 million. The aggregate investment in such securities shall not exceed $7565 million per account. D. SAN MATEO COUNTY POOL— Maximum $50M6sM $75M (consistent with LAIF) The City may invest in the San Mateo County Pool established by the San Mateo County Treasurer for the benefit of local agencies (as established in California Code Section 53684). The aggregate investment in such securities shall not exceed $58-6575 million, or the current amount established by the State for LAIF.. E. State and Local Agency Bonds — Maximum 20% Registered state warrants or treasury notes or bonds of this state, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by the state or by a department, board, agency, or authority of the state. Registered treasury notes or bonds of any of the other 49 states in addition to California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any of the other 49 states, in addition to California. Bonds, notes, warrants, or other evidences of indebtedness of a local agency within this state, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by the City, or by a department, board, agency, or authority of the City. Securities eligible for investment under this section must be rated in a rating category of "A" or its equivalent or better by a NRSRO. No more than 5% of the portfolio may be invested in a single issuer. The aggregate investment in such securities shall not exceed 20% of the City's total portfolio. Money Market and Mutual Funds — Maximum 20% (1) Shares of beneficial interest issued by diversified management companies that invest in the securities and obligations as authorized by California Government Code section 53601 subdivisions (a) to (k), inclusive, and subdivisions (m) to (q), inclusive, and that comply with the investment restrictions of this article and Article 2 (commencing with Section 53630). If investment is in shares issued pursuant to this paragraph, the company shall have met either of the following criteria: (A) Attained the highest ranking or the highest letter and numerical rating provided by not less than two NRSROs. (B) Retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years' experience investing in DRAFT on 1/13/20 Approved by Council 1/14/2019 6 16