RES 02047 - Laserfiche WebLink

(H) Commercial paper rated, at the time of purchase, "F-I"' by Moody's and "A- I ,. or better by S&P, (I) Bonds or notes issued by any state or municipality which are rated by Moody's and S&P in one of the two highest rating categories assigned by such agencies. (J) Federal funds or bankers acceptances with a maximum term of 270 days of any bank which has an unsecured, uninsured and unguaranteed obligation rating of "A" or better by Moody's and "A-I" or "A" or better by S&P. (K) The Local Agency Investment Fund created and maintained pursuant to Government Code Section 16429.1 as amended from time to time to the extent deposits and withdrawals may be made directly or in the name of the Trustee. (L) Repurchase agreements which provide for the transfer of securities from a dealer bank or securities firm (sellerlboITower) to the Trustee (buyer/lender), and the transfer of cash from the Trustee to the dealer bank or securities firm with an agreernent that the dealer bank or securities firm will repay the cash plus a yield to the Trustee in exchange for the securities at a specified date. Repurchase Agreements shall satisfy the following criteria: 1, Repurchase Agreements must be between the Trustee and a dealer bank or securities firm, a. Primary dealers on the Federal Reserve reporting dealer list which fall under the jurisdiction of the SIPe. or Banks rated "A" or above by Standard & Poor's Corporation and Moody's. 2, The written repurchase agreement must include the following: a. Securities which are acceptable for transfer are: (I) Federal Securities b. The term of the repurchase agreernent may be up to 30 days c. The collateral must be delivered to the Trustee (if Trustee is not supplying the collateral) or third party acting as agent for the Trustee (if the Trustee is supplying the collateral) d. The Trustee has a perfected first priority security interest in the collateral. -8- Pleasanton Cross Town Indenture (1).DOC