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2002-09-25 CC Packet
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2002-09-25 CC Packet
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<br />note is issued for a maturity specified by the purchaser. Corporations market their <br />paper through dealers who in turn market the paper to investors. <br /> <br />5. Any Security which is a General Obligation ofthe State of Minnesota or any of its <br />Mnnicipalities. <br /> <br />6. Statewide Investment Pools which invest in authoriz <br />MN Statutes 475.66 118A.04. <br /> <br /> <br />7. Money Market Mutual Funds which invest i <br />MN Statutes 175.66 118A.04. <br /> <br />Interest-bearing deposits in authorized depositori . <br />collateralized. <br /> <br />Collateralization will be required on two type <br />repurchase agreements. In order to anticip <br />security for all funds, the collateralizatio <br />principal and accrued interest. When th <br />first mortgages, the collateral level will <br />accrued interest. Collateral shall po <br />subject to release by the city's <br />of deposit and repurchase agr <br />safekeeping by an institutio <br />a safekeeping receipt to the <br />pertinent info '. All dep <br />MN Statu <br /> <br />ity are held in safekeeping by a broker/dealer, they <br />,000 through the Securities Investor protection <br />er $2,000,000 supplemental insurance protection. <br /> <br />IVERSIFICATION <br /> <br />Ify its investments according to type and maturity. The <br />portfolio, as much as . Ie, will contain both short-term and long-term investments. <br />The city will attempt to match its investments with anticipated cash flow requirements. <br />Extended maturities may be utilized to take advantage of higher yields; however, no more <br />than 15-20% of the total investments should extend beyond five (5) years and in no <br />circumstance should any extend beyond eight (8) years. <br /> <br />. <br /> <br />-4- <br />
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