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Invstment Policy <br /> cy, and in <br /> Under <br /> Government Code, Garden Grove emay investrin the followingdtyp s ofance t h Section 53601 of <br /> investments: <br /> the California <br /> Repurchase Agreements <br /> Securities of the U.S. Government and its Agencies <br /> Banks Acceptances <br /> Certificates of Deposit <br /> Commercial Paper <br /> California Local Agency Investment Fund (LAIF) <br /> Passbook Savings Accounts <br /> Negotiable Certificates of Deposit <br /> Although certificates of <br /> ts are <br /> lowed <br /> under the California <br /> ent Code, <br /> le <br /> this type <br /> oinvestment t sbcurr currently not utilized. Garden lG ove's investment policy does not allow the <br /> borrowing of funds to purchase investments on margin through reverse repurchase agreements. <br /> Local Agency Investment Funds (LAIF). The LAIF is a special fund of the California State <br /> Treasury through which local governments may pool investments. Investments in LAIF are highly <br /> ed <br /> in L IFssdn investment portfolio be certain derivative securi to cash within ties in hours <br /> theform of loss <br /> sttructtured notes and asset- <br /> backed securities.LA <br /> securities. LAIF's and Garden Grove's exposure to credit, market or legal risk is not available. <br /> Repurchase Agreements. Throughout the year, Garden Grove utilizes overnight repurchase <br /> agreements <br /> ceedrtwo percentt of City funds. Such of Garden Grove's invest portfolio.agreements are used daily, but <br /> generally do not ex <br /> Description of Leased Premiss <br /> The following real property <br /> and n nimprovements constitute the Leased Premises under Garden <br /> Grove's Site Lease and Lease Agree <br /> he City <br /> ice <br /> eadquarters <br /> PThe arkway inthe City of Gardenen G ove eTh sconsists <br /> a 33,189 square foot facility which houseslocated <br /> the 11301 <br /> ving <br /> Acacia Police. Y the City's property <br /> improvement <br /> mt r mentivalueuof $4,509,794 nNo estimate was provided ford ltythe land underlying the facce schedule as ility. an <br /> P <br /> The City of Garden Grove's Site Lease and Lease Agreement will support the City's share of the <br /> bonds which is $3,410,000.00. <br /> Description of Project <br /> The City of Garden Grove intends to use its portion of the Bond proceeds to finance a portion of <br /> its share of the costs of the Orange County countywide 800 MHz communications system. <br /> B-47 <br />