RES 2024042 - Laserfiche WebLink

Exhibit A Medium-term notes, defined as all corporate and depository institution debt securities with a maximum remaining maturity of five years or less, issued by corporations organized and operating in the United States or by depository institutions licensed by the United States or any state and operating in the United States. Purchases are limited to securities rated in a rating category of "A" or its equivalent or better by one NRSRO. The aggregate investment in Medium-term corporate notes shall not exceed 30% of the City's total portfolio, and no more than 5% of the portfolio may be invested in any single issuer. k. Repurchase and Reverse Repurchase Agreements Repurchase Agreements collateralized only by securities of the U.S. Government or its agencies. The purchase securities shall have a minimum market value of 102% of the dollar value of funds borrowed and a term not to exceed one year. The aggregate investment in repurchase agreements shall not exceed 15% of the City's total portfolio. Securities used as collateral for Repurchase Agreements will be delivered to an acceptable third -party custodian. Repurchase Agreements are subject to a Master Repurchase Agreement between the City and the provider of the repurchase agreement. The Master Repurchase Agreement will be substantially in the form developed by the Securities Industry and Financial Markets Association (SIFMA). Money Market and Mutual Funds Money market and mutual funds that are registered with the Securities and Exchange Commission under the Investment Company Act of 1940, provided that: b. Mutual Funds that invest in the securities and obligations as authorized under California Government Code, Section 53601 (a) to (k) and (m) to (q) inclusive and that meet either of the following criteria: (i) Attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs; or (ii) Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years' experience investing in the securities and obligations authorized by California Government Code, Section 53601 and with assets under management in excess of $500 million. • No more than 10% of the total portfolio may be invested in shares of any one mutual fund. c. Money Market Mutual Funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 and issued by diversified management companies and meet either of the following criteria: