Laserfiche WebLink
K. Medium Term Corporate Notes (MTN) are defined as all <br /> corporate and depository institution debt securities with a <br /> maximum remaining maturity of five years or less, issued by <br /> corporations organized and operating within the United <br /> States or by depository institutions licensed by the United <br /> States or any state and operating within the United States. <br /> Notes eligible for investment shall be rated in a rating <br /> category of "A" or higher by a nationally recognized rating <br /> service. Purchases in this category shall not exceed five (5) <br /> years to maturity or thirty percent (30%) of the cost value of <br /> the investment portfolio. Purchases in a single issuer in this <br /> category shall not exceed five percent (5%) of the cost value <br /> of the investment portfolio. <br /> L. A mortgage pass-through security, collateralized mortgage <br /> obligation, mortgage-backed or other pay-through bond, <br /> equipment lease-backed certificate, consumer receivable <br /> pass-through certificate, or consumer receivable-backed <br /> bond. Securities eligible for investment under this <br /> subdivision shall be rated in a rating category of "AAA" or its <br /> equivalent or better by an NRSRO and have a maximum <br /> remaining maturity of five years or less. Purchase of <br /> securities authorized by this subdivision shall not exceed 10 <br /> percent (10%) of the agency's surplus moneys that may be <br /> invested pursuant to this section. <br /> M. Shares of beneficial interest, otherwise known as money <br /> market shares, are issued by diversified management <br /> companies that are money market funds registered with the <br /> Securities and Exchange Commission under the Investment <br /> CompanyActof 1940. The company shall have met either of <br /> the following criteria: <br /> i. Attain the highest ranking or the highest letter <br /> and numerical rating provided by not less than <br /> two NRSROs, and <br /> ii. Retained an investment adviser registered or <br /> exempt from registration with the Securities <br /> and Exchange Commission with not less than <br /> five (5) years' experience investing in the <br /> securities and obligations authorized by <br /> subsection (a) to (k), inclusive, and <br /> subdivisions (m) to (o), inclusive, of Section <br /> 53601 of the Government Code and with assets <br /> under management in excess of five-hundred, <br /> City of Santa-Annual Page 13 July 1. 2026 - <br /> Statement of Investment Policy June 30,2027 <br />