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b) they are rated "A" or better by a national bond rating service, <br />E) general revenue obligation of any agency or authority of the State of. <br />Minnesota other than those found:. in C or D above (Housing Finance. <br />Agency) that are rated "AA" or better by a national bond rating service. <br />4. Certificates of deposit at state and federally chartered banks and savings and loan <br />associations. All investments made under this subsection. shall be limited to the <br />amount of Federal Deposit Insurance Corporation or the manner set forth in <br />Minnesota:statute 118.0.05..The. certificate of deposit should be in.the form. of a <br />discounted security maturing in the ainount not to.exceed the insurance coverage <br />or in the amount so that at any. time the face amount together with any accrued <br />interest does not .exceed the insurance coverage. <br />5.. I3anker'sAcceptances of United States Corporation or their Canadian subsidiaries <br />that are rated 'Al" by Moody's Investors Service andlor P I by Standard and <br />Door's. Corporation and matures in 270 days or less. Banker's: Acceptances can <br />only be:purchased if.the yield is greater than the. United States 'Treasury <br />obligations or Federal Agency issues. <br />6. Cominercial Paper issued by United States corporations or their Canadian <br />subsidiaries that are rated "A l".by Moo.dy's Investors Service.andlor `PI" by <br />Standard and Poor's Corporation and matures in 270 days.or less.. <br />7 Money Market Funds consisting of United States Treasury Obligations andlor <br />Federal.. Agency Issues. <br />8. The. City will not purchase securities that are. considered highly sensitive. A <br />• highly sensitive investment..is a debt instrument with contract terms that make the <br />investment's fair value.highly sensitive to interest. rate changes. Examples <br />includerange notes and index amortizing notes, step-up notes and bonds, <br />variable -rate investments with coupon.multipliers, and.coupons that vary <br />inversely with a benchmark index. <br />9. The City will not purchase securities that could expose the City to foreign <br />currency risk. <br />6. Safekeeping and Custody <br />Investments may be heldin safekeeping' with: <br />l . Any Federal Reserve Bank, <br />2. Any bank authorized under the laws of the United States or any state to exercise <br />corporate trust powers, including but not limited to the bank from which the <br />investment is purchased, <br />4 <br />