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CITY OF SANTA ANA STATEMENT OF INVESTMENT POLICY <br />JULY 1, 2016 — JUNE 30, 2017 <br />Page 16 <br />GOVERNMENT CODE - GOV <br />TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000 - 229801 <br />( Title 2 enacted by Stats. 1943, Ch. 134 ) <br />DIVISION 4. FISCAL AFFAIRS [16100 - 17700] <br />( Division 4 added by Stats. 1945, Ch. 119. ) <br />PART 2. STATE FUNDS [16300 - 16649.951 <br />( Part 2 added by Stats. 1945, Ch. 120. ) <br />CHAPTER 2. Special Funds [16346 - 16429.4] <br />( Chapter 2 added by Stats. 1945, Ch. 120. ) <br />ARTICLE 11. Local Agency Investment Fund [16429.1 - 16429.41 <br />( Article 11 added by Slats. 1976, Ch. 730. ) <br />GOVERNMENT CODE <br />SECTION <br />16429.1. <br />(a) There is in trust in the custody of the Treasurer the Local Agency Investment Fund, which fund is hereby <br />created. The Controller shall maintain a separate account for each governmental unit having deposits in this <br />fund. <br />(b) Notwithstanding any other law, a local governmental official, with the consent of the governing body of <br />that agency, having money in its treasury not required for immediate needs, may remit the money to the <br />Treasurer for deposit in the Local Agency Investment Fund for the purpose of investment. <br />(c) Notwithstanding any other law, an officer of any nonprofit corporation whose membership is confined to <br />public agencies or public officials, or an officer of a qualified quasi - governmental agency, with the consent <br />of the governing body of that agency, having money in its treasury not required for immediate needs, may <br />remit the money to the Treasurer for deposit in the Local Agency Investment Fund for the purpose of <br />investment. <br />(d) Notwithstanding any other law or provision of this section, a local agency, with the approval of its <br />governing body, may deposit in the Local Agency Investment Fund proceeds of the issuance of bonds, <br />notes, certificates of participation, or other evidences of indebtedness of the agency pending expenditure of <br />the proceeds for the authorized purpose of their issuance. In connection with these deposits of proceeds, <br />the Local Agency Investment Fund is authorized to receive and disburse moneys, and to provide <br />information, directly with or to an authorized officer of a trustee or fiscal agent engaged by the local agency, <br />the Local Agency Investment Fund is authorized to hold investments in the name and for the account of that <br />trustee or fiscal agent, and the Controller shall maintain a separate account for each deposit of proceeds. <br />(e) The local governmental unit, the nonprofit corporation, or the quasi - governmental agency has the <br />exclusive determination of the length of time its money will be on deposit with the Treasurer. <br />55C -26 <br />