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Acceptable Investment Vehicles <br /> <br />The City's investment portfolio may include the following <br />instruments: <br /> <br /> · Certificate of Deposits purchased from banks or savings <br /> and loan institutions (these certificates may be either <br /> negotiable or collateralized) <br /> <br /> · Banker's acceptances <br /> <br /> · Treasury bills and notes <br /> <br /> · Securities of government agencies (e.g., Federal National <br /> Mortgage Association, Government National Mortgage <br /> Association, Federal Farm Credits) <br /> <br /> · Commercial paper <br /> <br /> · The State of California Local Agency Investment Fund <br /> <br /> · Passbook Savings Account <br /> <br /> · Other suitable instruments as authorized by law. <br /> <br />Trust Agreements <br /> <br />The City shall direct the investment activities of trustees. Such <br />direction shall be in keeping with the terms and conditions of its <br />trust agreements, applicable law and the policies set forth in this <br />document. <br /> <br />Reports of Investment Activities <br /> <br />Monthly, the Finance Director will report to the City Council on <br />the status of the City's investment portfolio. This report shall <br />include information as to the type of investment, the amount of <br />money invested with various institutions, purchase and maturity <br />dates, and yield on investments. <br /> <br /> <br />