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H. Local Agency Investment Fund - State Pool. The City may <br /> invest in the Local Agency Investment Fund (LAIF) <br /> established by the State Treasurer under California <br /> Government Code Section 16429.1 for the benefit of local <br /> agencies. LAIF provides daily liquidity; therefore, there is no <br /> final stated maturity for this investment category. Although <br /> there is no percentage limitation on this fund, the "prudent <br /> investor" rule shall apply for a single agency name. In keeping <br /> with LAIF deposit-limit investments, City LAIF investments <br /> shall not exceed $75 million per active account, unless the <br /> State Treasurer authorizes a higher deposit limit for regular <br /> accounts during the term of this Statement of Investment <br /> Policy, in which case City LAIF investments may increase to <br /> that limit. <br /> I. California Cooperative Liquid Assets Securities System <br /> (CLASS) Prime Fund—Joint Powers of Authority Pool. The <br /> City may invest in the California CLASS Prime Fund <br /> established by a joint exercise of powers entity authorized <br /> under California Government Code Section 6509.7 for the <br /> benefit of all public agencies in the State of California that <br /> have authority to invest their treasury funds. The California <br /> CLASS Prime Fund provides daily liquidity; therefore, there is <br /> no final stated maturity for this investment category. <br /> Although there is no percentage limitation on this fund, the <br /> "prudent investor" rule shall apply for a single agency name. <br /> The California CLASS Prime Fund does not limit a maximum <br /> or minimum investment balance; therefore, its investments <br /> may increase or decrease based on pool performance, daily <br /> cash flow needs, etc. <br /> J. Municipal Bonds. The City may invest in notes or bonds of any <br /> of the fifty(50)states, as well as the debt of any local agency within <br /> the State of California. Notes, warrants, or other evidence of <br /> indebtedness of any local agency within this state, including <br /> bonds payable solely from the revenues of a revenue- <br /> producing property owned, controlled, or operated by the local <br /> agency, or by a department, board, agency, or authority of the <br /> local agency. Investments in this category shall be restricted <br /> to instruments that have a rating of "A" or higher, or the <br /> equivalent, by at least one of the following nationally <br /> recognized statistical rating organizations: Moody's, Standard <br /> & Poor's, or Fitch. Purchases in this category shall not have <br /> more than five (5) years to maturity. There is no percentage <br /> limit in this category. <br /> City of Santa-Annual Page 12 July 1. 2026 - <br /> Statement of Investment Policy June 30,2027 <br />