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performance of these managers will be closely monitored, and <br />their results will be carefully evaluated. <br /> <br />Acceptable 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 /> · Banker's acceptances <br /> <br /> · U.S. Treasury Obligations (Bills, Notes, Bonds) <br /> <br /> · Securities of the U.S. Government or its agencies. <br /> <br /> · A1/P1 Commercial Paper <br /> <br /> · State of California Local Agency Investment Fund <br /> <br /> · Passbook Savings Account <br /> <br /> · Medium-term 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 />Safekeepinq and Custody <br /> <br />Securities purchased from brokers/dealers shall be held in a <br />third party custodian bank whenever possible. <br /> <br />Trust Aqreements <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 />