Laserfiche WebLink
"Permitted Investments" shall mean any of the following to the extent then permitted <br />by the general laws of the State of California applicable to investments by local agencies <br />(provided that the Trustee shall be entitled to rely upon any Written Request from the Agency as <br />conclusive certification to the Trustee that the investments described therein are permitted by the <br />general laws of the State of California applicable to investments by local agencies): <br />(1) (a) Direct obligations (other than an obligation subject to variation in principal <br />repayment) of the United States of America ("United States Treasury Obligations"), (b) <br />obligations fully and unconditionally guaranteed as to timely payment of principal and interest <br />by the United States of America, (c) obligations fully and unconditionally guaranteed as to <br />timely payment of principal and interest by any agency or instrumentality of the United States of <br />America when such obligations are backed by the full faith and credit of the United States of <br />America, or (d) evidences of ownership of proportionate interests in future interest and principal <br />payments on obligations described above held by a national banking association, bank, trust <br />company or bank holding company as custodian, under which the owner of the investment is the <br />real party in interest and has the right to proceed directly and individually against the obligor and <br />the underlying government obligations are not available to any person claiming through the <br />custodian or to whom the custodian may be obligated (collectively "United States Obligations"). <br />These include, but are not necessarily limited to: <br />- U.S. Treasury obligations <br />All direct or fully guaranteed obligations <br />- General Services Administration <br />Participation certificates <br />- U.S. Maritime Administration <br />Guaranteed Title XI financing <br />- Small Business Administration <br />Guaranteed participation certificates <br />- Guaranteed pool certificates <br />- Government National Mortgage Association (GNMA) <br />GNMA-guaranteed mortgage-backed securities <br />GNMA-guaranteed participation certificates <br />- U.S. Department of Housing & Urban Development <br />Local authority bonds <br />(2) Obligations of instrumentalities or agencies of the United States of America <br />limited to the following: (a) the Federal Home Loan Bank Board ("FHLB"); (b) the Federal <br />Home Loan Mortgage Corporation ("FHLMC"); (c) the Federal National Mortgage Association <br />(FNMA); (d) Federal Farm Credit Bank ("FFCB"); (e) Government National Mortgage <br />Association ("GNMA"); and (f) guaranteed portions of Small Business Administration ("SBA") <br />notes. <br />(3) Commercial paper having original maturities of not more than 270 days, payable <br />in the United States of America and issued by corporations that are organized and operating in <br />4150-2542-5420.3 <br />40990-25 <br />SA -3-27 <br />