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GOVERNMENTCODE <br />SECTION <br />53635. <br />(a)Thissectionshallapplyto a localagencythatis a county, a cityandcounty,orotherlocalagencythat <br />poolsmoneyindepositsorinvestmentswithotherlocalagencies,includinglocalagenciesthathavethe <br />samegoverningbody.However,Section53601shallapplytoalllocalagenciesthatpoolmoneyindeposits <br />orinvestmentsexclusivelywithlocalagenciesthathavethesamegoverningbody. <br />This section shallbeinterpretedin a mannerthatrecognizesthe distinct characteristics ofinvestmentpools <br />andthedistinctadministrativeburdensonmanagingandinvestingfundson a pooledbasispursuantto <br />Article 6 (commencingwithSection27130)ofChapter 5 ofDivision 2 ofTitle3. <br />A localagencythatis a county, a cityandcounty,orotherlocalagencythatpoolsmoneyindepositsor <br />investmentswithotheragenciesmayinvestincommercialpaperpursuanttosubdivision(h)ofSection <br />53601, except thatthelocalagencyshallbesubjecttothefollowingconcentrationlimits: <br />(1)Nomorethan40percentofthelocalagency’smoneymaybeinvestedineligiblecommercialpaper. <br />(2)Nomorethan10percentofthetotal assets oftheinvestmentsheldby a localagencymaybeinvestedin <br />anyoneissuer’scommercialpaper. <br />(b)NotwithstandingSection53601,theCityofLosAngelesshallbe subject totheconcentrationlimitsofthis <br />section forcountiesandforcitiesandcountieswithregardtotheinvestment ofmoneyineligiblecommercial <br />paper. <br />(AmendedbyStats.2008,Ch.709,Sec.10.7.EffectiveJanuary1,2009.) <br />. . . <br />*´«¸ ΐǾ ΑΏΐ9- <br />C¨³¸ ®¥ 3 ­³  ȃ !­­´ « <br />0 ¦¤ 29 <br />3³ ³¤¬¤­³ ®¥ )­µ¤²³¬¤­³ 0®«¨¢¸*´­¤ ΒΏǾ ΑΏ20 <br /> <br />