Skip to main content
Loading…
This section is included in your selections.

Authorized instruments shall be limited to the following:

(a) Obligations of the U.S. government, its agencies and instrumentalities.

(b) Insured or collateralized certificates of deposit, savings accounts, and other deposits with banks and savings and loan associations.

(c) Repurchase agreements that are documented by a written agreement, and are fully collateralized by delivery of obligations of the U.S. government to an independent third party custodian.

(d) Money market mutual funds whose dollar-weighted average portfolio maturities are not greater than one hundred twenty (120) days, and whose portfolios consist primarily of obligations of the U.S. government, its agencies and instrumentalities, and of repurchase agreements collateralized with such U.S. government, agency, or instrumentality obligations.

(e) A State investment pool, should one become available.

(Ord. 1349-89)