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instruments applicable to all local agencies along with maximum maturities, <br />maximum specified percentages of total portfolio, and minimum quality <br />requirements. Section 53601.1 authorizes local agencies to invest in financial <br />futures or financial option contracts in any of the allowable investment categories <br />enumerated in section 53601. <br />8.2 Authorized Investments <br />City of Santa Ana further restricts permitted investments to those listed below and <br />where applicable, Santa Ana may reduce maximum maturities, or maximum <br />specified percentages of total portfolio (concentration limits), and may increase <br />minimum quality requirements. Within this scope, the City diversifies its <br />investments by types of investments, maturity dates, concentration limits, and <br />quality requirements. <br />A. United States Treasury Bills, Notes, and Bonds, for which the full faith and credit <br />of the United States are pledged for payment of principal and interest. <br />Purchases of this category shall not exceed five years to maturity. There is no <br />percentage limit in this category. <br />91 <br />Sponsored Enterprise. Federal Agency Issues include, but are not limited to <br />GNMA (Government National Mortgage Association), FFCB (Federal Farm <br />Credit Bank), FHLB (Federal Home Loan Bank), FHLMC (Federal Home Loan <br />Mortgage Corporation), FNMA (Federal National Mortgage Association), FHA <br />(Federal Housing Administration), and TVA (Tennessee Valley Authority). <br />Although there is no percentage limitation on these issues, purchases of this <br />category shall not exceed five years to maturity and the "prudent investor" rule <br />shall apply for a single agency name as U.S. Government backing is implied <br />rather than guaranteed. <br />C. Supranational Obligations in United States dollar denominated senior <br />unsecured unsubordinated obligations issued or unconditionally guaranteed by <br />the International Bank for Reconstruction and Development, International <br />the United States. Investments under this subdivision shall be rated "AK or <br />better by an NRSRO and shall not exceed thirty (30%) percent of the cost value <br />of the investment portfolio. <br />D. Bills of exchange or time drafts drawn on and accepted by a commercial bank, <br />otherwise known as banker's acceptances, which are eligible for purchase by <br />the Federal Reserve System. Purchases of banker's acceptances may not <br />exceed one hundred eighty (180) days or forty percent (40%) of the cost value <br />of the Fund which may be invested pursuant to this section. However, no more <br />than thirty percent (30%) of the City's cost value of the investment portfolio may <br />City of Santa - Annual ¢� July 1, 2018 - <br />Statement of Investment Policy �R �9 5 June 30, 2019 <br />