Laserfiche WebLink
I. California Cooperative Liquid Assets Securities System (CLASS)„Prime Fund-- <br /> Joint Powers of Authority Pool. The City may invest in the California CLASS <br /> Prime Fund established by a joint exercise of powers entity authorized under <br /> California Government Code Section 6509.7 for the benefit of all public agencies <br /> in the State of California that have authority to invest their treasury funds. The <br /> California CLASS Prime Fund provides daily liquidity; therefore, there is no final <br /> staffed maturity for this investment category. Although there is no percentage <br /> limitation on this fund, the"prudent investor" rule shall apply for a single agency <br /> name. The California CLASS Prime Fund does not limit a maximum or minimum <br /> investment balance, in which case City California CLASS Prime Fund <br /> investments may increase or decrease based on pool performance, daily cash <br /> flow needs, etc. <br /> J. City of Santa Ana Bonds. The City may invest in bonds issued by the City or <br /> agency of the City including bonds payable solely out of the revenues from a <br /> revenue-producing property owned, controlled, or operated by the City or agency <br /> of the City. The City shall at all times adhere to restrictions and limitations of the <br /> bond indenture. Purchases of this category shall not exceed five years to <br /> maturity. There is no percentage limit in this category. <br /> K. Other State of California Local Agency Bonds. The City may invest in other State <br /> of California Local Agency Bonds. Notes, warrants or other evidence of <br /> indebtedness of any local agency within this state, including bonds payable solely <br /> out of the revenues from a revenue-producing property owned, controlled, or <br /> operated by the local agency, or by a department, board, agency, or authority of <br /> the local agency. Investments in this category shall be restricted to instruments <br /> that have a ranking ofA-1 or higher, or the equivalent by not less than two of the <br /> following nationally recognized statistical rating organizations: Moody's, Standard <br /> & Poor's or Fitch. Purchases of this category shall not exceed five years to <br /> maturity. There is no percentage limit in this category. <br /> L. Medium Term Corporate Notes (MTN)__defined as all corporate and depository <br /> institution debt securities with a maximum remaining maturity of five nears or less, <br /> issued by corporations organized and_operating within the United States orby <br /> depository institutions licensed by the United States or any state and operating <br /> within the United States. Notes eligible for investment shall be rated in a rating <br /> category of"A" or its equivalent or better by a nationally recognized rating service. <br /> Purchases in this category shall not exceed five (5) years to maturity or thirty <br /> percent(30%)of the cost value of the investment portfolio. Purchases in a single <br /> issuer in this category shall not exceed five percent(5%) of the cost value of the <br /> investment portfolio. <br /> M. A mortgage pass-through security, collateralized mortgage obligation, mortgage- <br /> backed or other pay-through bond, equipment lease-backed certificate, consumer <br /> receivable pass-through certificate, or consumer receivable-backed bond. Securities <br /> eligible for investment under this subdivision shall be rated in a rating category of"AAA" <br /> or its equivalent or better by an NRSRO and have a maximum remaining maturity of <br /> Resolution No. 2025-019 <br /> Page 15 of 24 <br />