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Investment Policy 6.1.B. - Page 6 <br /> � "��July 2013 <br /> Page 4 of 6 <br /> The City will only invest through the 15 largest banks in the United States or the 100 <br /> largest banks in the world (in terms of assets). The maximum investment with any one <br /> institution will not exceed $3 Million (with a maximum maturity of 180 days). <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 the City's name in accordance with Section XI. The <br /> maximum maturity on a treasury instrument will be three years. <br /> D. GOVERNMENT AGENCY SECURITIES: <br /> The City will require physical delivery of these securities to an acceptable safekeeping <br /> account in the City's name in accordance with Section XI. Examples of these securities <br /> include Government National Mortgage Association, Federal National Mortgage <br /> Association, Federal Land Bank, Federal Home Loan Bank Board, and Federal Farm <br /> 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 as a <br /> short term investment not to exceed 15 days. A rating of Standard and Poors A-1 or <br /> Moodys P-1 is required. The City will only invest in the largest 15 banks (in terms of <br /> total assets) in the United States. The investment in any one institution will not exceed <br /> $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 received too <br /> 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 $40 <br /> Million per account. <br /> I. MONEY MARKET FUNDS: <br /> Not more than 10% of the portfolio may be invested in money market funds. Funds <br /> must comply with the investment restrictions of the California Government Code Section <br />