§ 2-484. Permitted investments.

The city may, by resolution, invest and reinvest any surplus public funds in its control or possession in the following permitted investments:

(1)

The state board of administration's Local Government Surplus Funds Trust Fund ("SBA Pool").

(2)

United States government securities.

(3)

United States government agencies.

(4)

Federal instrumentalities.

(5)

Interest bearing time certificates of deposit and savings accounts.

(6)

Repurchase agreements.

(7)

Commercial paper — Rated Prime-1 by Moody's and A-1 by Standard & Poor's or the equivalent by another nationally recognized rating agency.

(8)

Corporate notes — Rated AA by Moody's and AA by Standard & Poor's or the equivalent by another nationally recognized rating agency.

(9)

Bankers' acceptances — Rated P-1 by Moody's Investors Services and A-1 by Standard & Poor's or the equivalent by another nationally recognized rating agency.

(10)

State and/or local government taxable and/or tax-exempt debt.

(11)

Registered investment companies (money market mutual funds) rated AAm or AAm-G or better by Standard & Poor's or the equivalent by another nationally recognized rating agency.

(12)

Registered investment companies (mutual funds) AAA or better by Standard & Poor's or the equivalent by another nationally recognized rating agency.

(13)

Intergovernmental investment pool.

(Ord. No. 3616-02, § 2, 10-28-2002)