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<br />vehicles: <br /> <br />(a) the Local Government Surplus Funds Trust Fund and any other <br />investment plan or investment trust developed by the Florida League <br />of Cities, the Florida Association of Counties, the Florida <br />Association of Court Clerks, or similar state or national associations, <br />approved by the City. <br /> <br />(b) Negotiable direct obligations of or obligations the principal and <br />interest of which are unconditionally guaranteed by the United <br />States Government or its agencies. <br /> <br />(c) Non-negotiable interest-bearing time certificates of deposits or <br />savings accounts in state or federal banks, state or federal savings <br />and loan associations as permitted and/or prescribed by chapter 280 <br />of the Florida Statutes. <br /> <br />(d) Government Sponsored Enterprises including but not limited to <br />Federal Farm Credit banks, Federal Home Loan Bank or its district <br />banks, Federal National Mortgage Association, Federal Home Loan <br />Mortgage Corporation, including Federal Home Loan Mortgage <br />Corporation Participation Certificates, Student Loan Marketing <br />Association or obligations guaranteed by the Government National <br />Mortgage Association. <br /> <br />(e) State or local government taxable and tax exempt debt, general <br />obligation and/or revenue bonds rated at least "Aa" by Moody's or <br />"AA" by Standard & Poor's for long-term debt or rated at least MIG <br />-2 by Moody's or SP-2 Standard & Poor's for short-term debt. <br /> <br />(f) Real estate, so long as the acquisition and sale complies with <br />applicable federal and state laws and regulations in addition to <br />applicable City Charter provisions, if any, and the city Code of <br />Ordinances. <br /> <br />MATURITY AND LIQUIDITY REQUIREMENTS <br /> <br />To the extent possible, the City will attempt to match its investments with <br />overall anticipated cash flow requirements. The average maturity of the <br /> <br />Page 4 of 12 <br />