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1. California Cooperative Liquid Assets Securities System, (CLASS) Prime Fund — <br />Joint Powers of Authority Pool. The City may invest in the California CLASS <br />Prime Fund established by a joint exercise of powers entity authorized under <br />California Government Code Section 6509.7 for the benefit of all public agencies <br />in the State of California that have authority to invest their treasury funds. The <br />California CLASS Prime Fund provides daily liquidity; therefore, there is no final <br />stated maturity for this investment category. Although there is no percentage <br />limitation on this fund, the "prudent investor" rule shall apply fora single agency <br />name. The California CLASS Prime Fund does not limit a maximum or minimum <br />investment balance, in which case City California CLASS Prime Fund <br />investments may increase or decrease based on pool performance, daily cash <br />flow needs, etc. <br />J. City of Santa Ana Bonds. The City may invest in bonds issued by the City or <br />agency of the City including bonds payable solely out of the revenues from a <br />revenue -producing property owned, controlled, or operated by the City or agency <br />of the City. The City shall at all times adhere to restrictions and limitations of the <br />bond indenture. Purchases of this category shall not exceed five years to <br />maturity. There is no percentage limit in this category. <br />K. Other State of California Local Agency Bonds. The City may invest in other State <br />of California Local Agency Bonds. Notes, warrants or other evidence of <br />indebtedness of any local agency within this state, including bonds payable solely <br />out of the revenues from a revenue -producing property owned, controlled, or <br />operated by the local agency, or by a department, board, agency, or authority of <br />the local agency. Investments in this category shall be restricted to instruments <br />that have a ranking of A-1 or higher, or the equivalent by not less than two of the <br />following nationally recognized statistical rating organizations: Moody's, Standard <br />& Poor's or Fitch. Purchases of this category shall not exceed five years to <br />maturity. There is no percentage limit in this category. <br />L. Medium Term Corporate Notes (MTN) defined as all corporate and depositor <br />institution debt securities with a maximum remaining, maturity of five years or less <br />issued by corgorations or anized and operating within the United States or <br />deposito!y institutions licensed by the United States or any state and op ratinq <br />within the United States. Notes eligible for investment shall be rated in a rating <br />category of "A" or its equivalent or better by a nationally recognized rating service. <br />Purchases in this category shall not exceed five (5) years to.maturity or thirty <br />percent (30%) of the cost value of the investment portfolio. Purchases in a single <br />issuer in this category shall not exceed five percent (5%) of the cost value of the <br />investment portfolio. <br />M, A mortgage pass -through security, collateralized mortgage obligation, mortgage - <br />backed or other pay -through bond, equipment lease -backed certificate, consumer <br />receivable pass -through certificate, or consumer receivable -backed bond. Securities <br />eligible for investment under this subdivision shall be rated in a rating category of ")MA" <br />or its equivalent or better by an NRSRO and have a maximum remaining maturity of <br />City of Santa - Annual Page 11 ___ _July J.,_2024 - <br />Statement of Investment Policy June 30, 2025 <br />