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FIGURE 1 <br />ALLOWABLE INVESTMENT INSTRUMENTS PER STATE GOVERNMENT CODE <br />(AS OF JANUARY 1, 2023)A APPLICABLE TO ALL LOCAL AGENCIESB <br />See "Table of Notes for Figure 1" on the next page for footnotes related to this figure. <br />MAXIMUM <br />MINIMUM <br />• <br />INVESTMENT <br />MAXIMUM <br />SPECIFIED <br />• <br />•D <br />• <br />• <br />• <br />PORTFOLIOD <br />Local Agency Bonds <br />5 years <br />None <br />None <br />53601(a) <br />U.S. Treasury Obligations <br />5 years <br />None <br />None <br />53601(b) <br />State Obligations — <br />CA And Others <br />5 years <br />None <br />None <br />53601(c) <br />53601(d) <br />CA Local Agency <br />5 years <br />None <br />None <br />53601(e) <br />Obligations <br />U.S Agency Obligations <br />5 years <br />None <br />None <br />53601(f) <br />Bankers' Acceptances <br />180 days <br />40%E <br />None <br />53601(g) <br />Commercial Paper— <br />270 days <br />25% of the <br />Highest letter and <br />53601(h)(2)(c) <br />Non -Pooled Funds' <br />or less <br />agency's moneys <br />number rating byan <br />(under $100,000,000 of investments) <br />NRSROH <br />Commercial Paper— <br />270 days <br />40% of the <br />Highest letter and <br />53601(h)(2)(c) <br />Non -Pooled Funds <br />or less <br />agency's moneys <br />number rating byan <br />(min. $100,000,000 of investments) <br />NRSROH <br />Commercial Paper— <br />270 days <br />40% of the <br />Highestletterandnumber <br />53635(a)(1) <br />Pooled Funds' <br />or less <br />agency's moneys <br />rating by an NRSROH <br />NegotiableCertificates <br />5 years <br />30%' <br />None <br />53601(i) <br />of Deposit <br />Non-negotiable <br />Certificates of Deposit <br />5 years <br />None <br />None <br />53630 et seq. <br />Placement Service <br />5 years <br />50%H <br />None <br />53601.8 and <br />Deposits <br />53635.8 <br />Placement Service <br />5 years <br />50%H <br />None <br />53601.8 and <br />Certificates of Deposit <br />53635.8 <br />Repurchase Agreements <br />1 year <br />None <br />None <br />53601(j) <br />Reverse Repurchase <br />20%ofthe base <br />Agreements and Securities <br />92 daySL <br />value of the <br />Nonem <br />53601(j) <br />Lending Agreements <br />portfolio <br />Medium -Term NoteSN <br />5 years <br />30% <br />"A" rating category or <br />53601(k) <br />or less <br />its equivalent or <br />better <br />Mutual Funds And Money <br />N/A <br />o <br />20/ <br />MultiplePQ <br />53601(1) and <br />Market Mutual Funds <br />53601.6(b) <br />Collateralized Bank <br />53630 et seq. <br />DepositSR <br />5 years <br />None <br />None <br />and 53601(n) <br />Mortgage Pass—Th rough <br />5 years <br />"AA" rating category <br />and Asset —Backed <br />o <br />20/0 <br />53601(o) <br />Securities <br />or less <br />or its equivalent or <br />better <br />County Pooled <br />N/A <br />None <br />None <br />27133 <br />Investment Funds <br />Joint Powers Authority Pool <br />N/A <br />None <br />Multiples <br />53601(p) <br />Local Agency Investment <br />N/A <br />None <br />None <br />16429.1 <br />Fund (LAIF) <br />Voluntarylnvestment <br />N/A <br />None <br />None <br />16340 <br />Program Fund <br />5 years <br />"AA" rating category <br />Supranational Obligationsu <br />or less <br />30% <br />or its equivalent or <br />53601(q) <br />better <br />53601(r), <br />P <br />nd <br />City Council <br />44 — <br />LOCAL AGENCY INVESTMENT GUIDELINES <br />