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performance of these managers will be closely monitored, and <br />their results will be carefully evaluated. <br /> <br />AcceDtable Investment Vehicles <br /> <br />The City's investment portfolio may include the following <br />instruments: <br /> <br />Fully-insured or collaterized certificates of <br />deposit of commercial banks and savings and loan <br />associations. <br /> <br />Negotiable C/D's issued by the top 25 banks or top <br />15 regional banks. <br /> <br />o Banker's acceptance <br /> <br />o U.S. Treasury Obligations (Bills, Notes, Bonds) <br /> <br />o Securities of the U.S. Government or its agencies. <br /> <br />o Al/P1 Commercial Paper <br /> <br />o State of California Local Agency Investment Fund <br /> <br />o Passbook Savings Account <br /> <br />o Medium-term or corporate notes rated A or better. <br /> <br />Repurchase agreements collaterized by U.S. <br />Government securities or its agencies. <br /> <br />Money market and mutual funds whose portfolios <br />consist of government securities or diversified <br />money market securities such as acceptable C/D's, <br />banker's acceptances, agency discount notes, <br />commercial paper, and other full-faith and credit <br />obligations of the U.S. Government. <br /> <br />SafekeeDin~ and Custody <br /> <br />Securities purchased from brokers/dealers shall be held in a <br />third party custodian bank whenever possible. <br /> <br />Trust A~reements <br /> <br />The City shall direct the investment activities of trustees. <br />Such direction shall be in keeping with the terms and <br />conditions of its trust agreements, applicable law and <br />policies set forth in this document. <br /> <br /> <br />