Laserfiche WebLink
ATTACHMENT 2 <br />7 <br />(i) The issuer is organized within the United States as a special <br />purpose corporation, trust, or limited liability company <br />(ii) The securities must have program-wide credit enhancements <br />including, but not limited to, overcollateralization, letters of credit, or <br />a surety bond <br />(iii)The securities are rated “A-1” or its equivalent or better by at least <br />one NRSRO <br />•No more than 10% of the outstanding commercial paper of any single issuer <br />is permitted <br />•No more than 25% of the City’s investment assets under management may <br />be invested in Commercial Paper. <br />•No more than 5% of the portfolio may be invested in any single issuer <br />•The maximum maturity does not exceed 270 days <br />g.State of California Local Agency Investment Fund (LAIF) <br />The Local Agency Investment Fund was established by the State to enable local <br />agency treasurers to place funds in a pool for investment (California Government <br />Code Section 16429.1 et seq.). The City uses this investment vehicle for short- <br />term liquidity, funds are available on demand and interest is paid quarterly. The <br />City may invest up to the maximum permitted by LAIF. <br />h. Municipal Securities That Are California State and Local Agency <br />Obligations <br />Obligations of the State of California or any local agency within the state, provided <br />that such obligations are rated in a rating category of A or its equivalent or better <br />by at least one NRSRO. No more than 5% of the City’s total portfolio shall be <br />invested in any one issuer in this category and the aggregate investment in <br />categories (h. & i.) shall not exceed 30% of the City’s total portfolio. <br />i. Municipal Securities from Other States <br />Registered treasury notes or bonds of any of the other 49 United States in addition <br />to California, including bonds payable solely out of the revenues from a revenue- <br />producing property owned, controlled, or operated by a state or by a department, <br />board, agency, or authority of any of the other 49 United States, in addition to <br />California, provided that such obligations are rated in a rating category of A or its <br />equivalent or better by at least one NRSRO. No more than 5% of the City’s total <br />portfolio shall be invested in any one issuer in this category and the aggregate <br />investment in categories (h. & i.) shall not exceed 30% of the City’s total portfolio. <br />j. Medium-term notes <br />Page 40 of 248