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AUTHORIZED AND SUITABLE INVESTMENTS <br /> The City's investment portfolio may include the following instruments: <br /> a. Time Deposits <br /> Fully-insured (FDIC) or fully collateralized non-negotiable certificates of deposits <br /> (CD's) in financial institutions located in California. All time deposits must be <br /> collateralized in accordance with California Government Code sections 53650 et. <br /> seq. The City, at its discretion, may waive the collateralization requirements for <br /> any portion of the deposit that is covered by federal insurance. A maximum of <br /> 30% of the City's portfolio may be invested in this category. <br /> b. Negotiable Certificates of Deposit (NCDs) <br /> Negotiable C/D's issued by the top 25 banks or top 15 regional banks. The <br /> aggregate investment in Negotiable C/D's shall not exceed 30% of the City's total <br /> portfolio. The City shall also be able to invest in the C/D's of any local or regional <br /> bank that do not meet the above criteria, however the maximum allowable limit of <br /> such investment will be restricted to the FDIC insured amount of $250,000/- per <br /> bank <br /> c. Banker's Acceptances <br /> Banker's Acceptances not to exceed 180 days maturity from date of purchase. <br /> No more than 5% of the City's total portfolio shall be invested in banker's <br /> acceptances of any one issuer and the aggregate investment in banker's <br /> acceptances shall not exceed 30% of the City's total portfolio. <br /> d. Securities of the U.S. Government <br /> U.S. Treasury bills, notes, bonds or certificates of indebtedness, or those for <br /> which the faith and credit of the United States are pledged for the payment of <br /> principle and interest. There is no limitation as to the percentage of the City's <br /> portfolio that may be invested in this category. <br /> e. Securities of U.S. Government Agencies <br /> Federal agency or United States government-sponsored enterprise obligations, <br /> participations, or other instruments, including those issued by or fully guaranteed <br /> as to principle and interest by federal agencies or United States government- <br /> sponsored enterprises. There is no limitation as to the percentage of the City's <br /> portfolio that may be invested in this category. <br /> 4 <br />