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C. Supranational Obligations in United States dollar denominated senior unsecured <br /> unsubordinated obligations issued or unconditionally guaranteed by the <br /> International Bank for Reconstruction and Development International Finance <br /> Corporation, or Inter-American Development Bank, with a maximum remaining <br /> maturity of five years_orless, and eligible forpurchase or sale within the United <br /> States. Investments under this subdivision shall be rated "AA" or better by an <br /> NRSRO and shall not exceed thirty (30%) percent of the cost value of the <br /> investment portfolio. <br /> D. Bills of exchange or time drafts drawn on and accepted by a commercial bank, <br /> otherwise known as banker's acceptances, which are eligible forpurchase by the <br /> Federal Reserve System. Purchases of banker's acceptances may not exceed <br /> one hundred eighty (180) days or forty percent (40%) of the cost value of the <br /> Fund which may be invested pursuant to this section. However, no more than <br /> thirty percent (30%) of the City's cost value of the investment portfolio may be <br /> invested in the banker's acceptances of any one commercial bank pursuant to <br /> this section. <br /> E. Commercial paper of"prime"quality of the highest ranking or of the highest letter <br /> and number rating as provided for by a Nationally Recognized Statistical Rating <br /> Organization (NRSRO). The entity that issues the commercial paper shall be <br /> organized and operating within the United States, as a general corporation, shall <br /> have total assets in excess of five-hundred, million dollars ($500,000,000), and <br /> has debt other than commercial paper, if any, that is rated "A" or higher by <br /> NRSRO. The entity is organized within the United States as a special purpose <br /> corporation, trust, or limited liability company; has program wide credit <br /> enhancements including, but not limited to: over-col late ralization, letters of credit, <br /> or a surety bond; has commercial paper that is rated "A-1" or higher, or the <br /> equivalent, by an NRSRO Eligible commercial paper shall have a maximum <br /> maturity of two hundred seventy (270) days or less. The City may purchase no <br /> more than ten percent (10%) of the outstanding commercial paper of any single <br /> corporate issue. Purchases of commercial paper may not exceed twenty-five <br /> percent (25%) of the investment portfolio. <br /> F. Repurchase Agreements. For purposes of this section, the term "repurchase <br /> agreement" means a purchase of securities by the local agency pursuant to an <br /> agreement by which the seller will repurchase the securities on or before a <br /> specified date and for a specified amount and will deliver the underlying securities <br /> to a third-party custodian. The City may invest in repurchase agreements with <br /> primary dealers of the Federal Reserve with which the City has entered into a <br /> Securities Industry and Financial Markets Association (SIFMA) Master <br /> Repurchase Agreement (MRA) which specifies terms and conditions of <br /> repurchase agreements. The market value of securities used as collateral for <br /> repurchase agreements shall not be allowed to fall below one hundred two <br /> percent(102%)of the value of the repurchase agreement and shall be adjusted <br /> no less than quarterly by the tri-party custodial agent. The investments in <br /> repurchase agreements shall be in compliance if the underlying securities are <br /> Resolution No. 2025-019 <br /> Page 13 of 24 <br />