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FIGURE 1 <br />ALLOWABLE INVESTMENT INSTRUMENTS PER STATE GOVERNMENT <br />CODE (AS OF JANUARY 1, 2018)A APPLICABLE TO ALL LOCAL AGENCIESe <br />See "Table of Notes for Figure 1" on the next page for footnotes related to this figure. <br />INVEST NIT <br />_MAXIMUM <br />MATVRIT—Yc <br />0 <br />MINIMUM <br />QUALITY <br />REQUIREMENT& <br />Local Agency Bonds <br />5 years <br />None <br />None <br />U.S. Treasury Obligations <br />5 years <br />None <br />None <br />State Obligations— <br />CAAnd Others <br />5years <br />None <br />None <br />CA Local Agency <br />5 years <br />None <br />None <br />Obligations <br />U.S Agency Obligations <br />5 years <br />None <br />None <br />Bankers'Acceptances <br />180 days <br />40%s <br />None <br />Commercial Paper— <br />40% of the <br />Highest letter and number <br />Pooled Funds' <br />270 days <br />agencys moneys <br />rating by an NRSROH <br />Commercial Paper— <br />25% of the <br />Highest letter and number <br />Non -Pooled Funds` <br />270 days <br />agency's money° <br />ratlng by an NRSRO <br />Negotiable Certificates <br />5 years <br />30%j <br />None <br />of Deposit <br />Non-negotiable <br />5 years <br />None <br />None <br />Certificates of Deposit <br />Placement Service <br />5 years <br />30%" <br />None <br />Deposits <br />Placement Service <br />5 years <br />30%• <br />None <br />Certificates of Deposit <br />Repurchase Agreements <br />Iyear <br />None <br />None <br />Reverse Repurchase <br />20% of the base <br />Agreements and Securities <br />92 daySL <br />value of the <br />None'" <br />Lending Agreements <br />portfolio <br />Medium -Term NotmN <br />5 years <br />30% <br />..A., rating category or its <br />equivalent or better <br />Mutual Funds And Money <br />N/A <br />20% <br />Multiple°O <br />Market Mutual Funds <br />Collateralized Bank <br />5yeam <br />None <br />None <br />Deposits <br />Mortgage Pass -Through <br />5 years <br />20% <br />"AA' rating category or its <br />Securities <br />equivalent or better <br />County Pooled <br />N/A <br />None <br />None <br />Investment Funds <br />Joint Powers Authority Pool <br />N/A <br />None <br />Multiples <br />Local Agency Investment <br />N/A <br />None <br />None <br />Fund (LAIF) <br />Voluntary Investment <br />N/A <br />None <br />None <br />Program Fundi <br />Supranational Obligationsu <br />5 years <br />30% <br />"AA" rating category or its <br />equivalent or better <br />LOCAL AGENCSILM/ TM1rj2GUIDELINES <br />