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FIGURE 1 <br />ALLOWABLE INVESTMENT INSTRUMENTS PER STATE GOVERNMENT CODE <br />AB <br />(AS OF JANUARY 1, 2019)APPLICABLE TO ALL LOCAL AGENCIES <br />the next pagefor footnotes related to this figure. <br />MAXIMUM <br />MAXIMUM MINIMUMGOVERNMENT <br />SPECIFIED <br />INVESTMENT <br />REMAINING QUALITYCODE <br />TYPE% OF <br />C <br />MATURITYREQUIREMENTSSECTIONS <br />D <br />PORTFOLIO <br />Local Agency Bonds 5 years None None 53601(a) <br />U.S. Treasury Obligations 5 years None None 53601(b) <br />State Obligations: CA and <br />5 years None None 53601(d) <br />Others <br />CA Local Agency Obligations 5 years None None 53601(e) <br />U.S. Agency Obligations 5 years None None 53601(f) <br />E <br /> 180 days 40% None 53601(g) <br />Highest letter and <br />25% of the <br />F <br />Commercial Paper: Non-pooled Funds 270 days or less number 53601(h)(2)(C) <br />G <br /> <br />H <br />rating by an NRSRO <br />Highest letter and <br />Commercial Paper: Pooled 40% of the <br />270 days or less number 53635(a)(1) <br />IG <br />Funds <br />H <br />rating by an NRSRO <br />J <br />Negotiable Certificates of Deposit 5 years 30% None 53601(i) <br />Non-negotiable Certificates of <br />5 years None None <br />53630 et seq. <br />Deposit <br />53601.8 and <br /> K <br />Placement Service Deposits 5 years 30% None <br />53635.8 <br />53601.8 and <br /> K <br />Placement Service Certificates of Deposit 5 years 30% None <br />53635.8 <br />Repurchase Agreements 1 year None None 53601(j) <br />Reverse Repurchase Agreements and 20% of the base <br />LM <br />92 days None 53601(j) <br />Securities Lending Agreements value of the portfolio <br />N <br />Medium-term Notes 5 years or less 30% its equivalent or 53601(k) <br />better <br />Mutual Funds and Money Market Mutual 53601(l) and <br />OP,Q <br />N/A 20% Multiple <br />Funds 53601.6(b) <br />53630 et seq. and <br /> R <br />Collateralized Bank Deposits 5 years None None <br />53601(n) <br />Mortgage Passthrough and Asset <br />5 years or less 20% or its equivalent or 53601(o) <br />Backed Securities <br />better <br />County Pooled Investment <br />N/A None None 27133 <br />Funds <br /> S <br />Joint Powers Authority Pool N/A None Multiple 53601(p) <br />Local Agency Investment Fund (LAIF) N/A None None 16429.1 <br /> T <br />Voluntary Investment Program Fund N/A None None 16340 <br /> U <br />Supranational Obligations 5 years or less 30% or its equivalent or 53601(q) <br />better <br />LOCAL AGENCY INVESTMENT GUIDELINES <br /> <br />