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Investment Policy <br />Page -4- <br /> <br /> C. TREASURY BILLS AND NOTES: <br /> <br /> The City will require safekeeping documentation of the treasury instrument in an <br /> acceptable safekeeping account in the City's name. The maximum maturity on a <br /> treasury instrument will be three years. <br /> <br /> D. GOVERNMENT AGENCY SECURITIES: <br /> <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 /> Government National Mortgage Association, Federal National Mortgage <br /> Association, Federal Land Bank, and Federal Farm Credit Banks. <br /> <br /> E. COMMERCIAL PAPER: <br /> <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 largest 15 <br /> banks (in terms of total assets) in the United States. The investment in any one <br /> institution will not exceed $1 Million. <br /> <br /> F. STATE LOCAL AGENCY INVESTMENT FUND (LAIF): <br /> <br /> G. PASSBOOK SAVINGS ACCOUNTS: <br /> <br /> savings accounts shall be maintained for amounts under $100,000 that are <br /> received too late in the day to invest in other instruments. <br /> <br /> <br />