Laserfiche WebLink
CITY OF SANTA ANA STATEMENT OF INVESTMENT POLICY <br />JULY 1, 2016 — JUNE 30, 2017 <br />Page 7 <br />G. Local Agency Investment Fund - State Pool - the City may invest in the Local Agency <br />Investment Fund (LAIF) established by the State Treasurer under California Government <br />Code Section 16429.1 for the benefit of local agencies. LAIF provides daily liquidity; <br />therefore, there is no final stated maturity for this investment category. Although there is <br />no percentage limitation on this fund, the "prudent investor" rule shall apply for a single <br />agency name. Investments in LAIF shall not exceed $65 million per account. <br />H. Bonds issued by the City or agency of the City including bonds payable solely out of the <br />revenues from a revenue - producing property owned, controlled, or operated by the City or <br />agency of the City. Purchases of this category shall not exceed five years to maturity. <br />There is no percentage limit in this category. <br />Other State of California Local Agency bonds, notes, warrants or other evidence of <br />indebtedness of any local agency within this state, including bonds payable solely out of <br />the revenues from a revenue - producing property owned, controlled, or operated by the <br />local agency, or by a department, board, agency, or authority of the local agency. <br />Purchases of this category shall not exceed five years to maturity. There is no <br />percentage limit in this category. <br />J. Medium Term Corporate Notes (MTN) defined as all corporate and depository institution <br />debt securities with a maximum remaining maturity of five years or less, issued by <br />corporations organized and operating within the United States or by depository institutions <br />licensed by the United States or any state and operating within the United States. Notes <br />eligible for investment shall be rated in a rating category of "A" or its equivalent or better <br />by a nationally recognized rating service. Purchases in this category shall not exceed five <br />(5) years to maturity or fifteen percent (15 %) of the cost value of the Fund. Purchases in <br />a single issuer in this category shall not exceed five percent (5 %) of the cost value of the <br />Fund. <br />K. Shares of beneficial interest issued by diversified management companies that are <br />money market funds registered with the Securities and Exchange Commission under the <br />Investment Company Act of 1940. The company shall have met either of the following <br />criteria: <br />1. Attain the highest ranking or the highest letter and numerical rating provided by not <br />less than two NRSROs, and <br />2. Retained an investment adviser registered or exempt from registration with the <br />Securities and Exchange Commission with not less than five (5) years experience <br />investing in the securities and obligations authorized by subsection (a) to (k), <br />inclusive, and subdivisions (m) to (o), inclusive, of Section 53601 of the <br />55C -17 <br />