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FIGURE 1 <br />ALLOWABLE INVESTMENT INSTRUMENTS PER STATE GOVERNMENT <br />CODE (AS OF JANUARY 1, 2017) A APPLICABLE TO ALL LOCAL AGENCIES <br />See "Table of Notes for Figure 1' on the next page for footnotes related to this figure. <br />Y <br />INVESTMENT TYPE C SPECIFIED QUALI <br />MATURITY <br />%OF PORTFOLIO' REQUIREMENTS, <br />Local Agency Bonds 5 years None None <br />U.S. Treasury Obligations <br />5 years <br />None <br />None <br />State Obligations — CA And Others <br />5 years <br />None <br />None <br />CA Local Agency Obligations <br />5 years <br />None <br />None <br />U.S Agency Obligations <br />5 years <br />None <br />None <br />Bankers' Acceptances <br />180 days <br />40%F <br />None <br />Highest letter and number <br />Commercial Paper— Pooled Funds <br />270 days <br />40% of the agency's money c <br />rating by an NRSRO H <br />Commercial Paper — Non -Pooled <br />Highest letter and number <br />Funds F <br />270 days <br />25% of the agency's money c <br />rating by an NRSRO H <br />Negotiable Certificates of Deposit <br />5 years <br />30% 1 <br />None <br />Non-negotiable Certificates of Deposit <br />5 years <br />None <br />None <br />30% K <br />(inclusive of placement service <br />Placement Service Deposits <br />5 years <br />CDs) <br />None <br />30% K <br />Placement Service Certificates of <br />(combined with placement <br />Deposit <br />5 years <br />service deposits) <br />None <br />Repurchase Agreements <br />1 year <br />None <br />None <br />Reverse Repurchase Agreements and <br />20% of the base value of the <br />Securities Lending Agreements <br />92 days f <br />portfolio <br />None M <br />Medium -Term Notes N <br />5 years <br />30% <br />"A" Rating <br />Mutual Funds And Money Market <br />Mutual Funds <br />N/A <br />20% o <br />Multiple P' o <br />Collateralized Bank Deposits <br />5 years <br />None <br />None <br />Mortgage Pass–Through Securities <br />5 years <br />20% <br />"AA" Rating Category R <br />County Pooled Investment Funds <br />N/A <br />None <br />None <br />Joint Powers Authority Pool <br />N/A <br />None <br />Multiple s <br />Local Agency Investment Fund (LAIF) <br />N/A <br />None <br />None <br />Voluntary Investment Program Fund <br />N/A <br />None <br />None <br />Supranational Obligations u <br />5 years <br />30% <br />'AA" Rating <br />Page i LOCAL AGENCY INVESTMENT GUIDELINES <br />