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