Ordinance 99-86 - Laserfiche WebLink

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(2) bonds, debentures, notes or other evidences of indebtedness payable in cash issued by anyone or a combination of any of the following federal agencies: Farmer's Home Administration (or its successor), Federal Housing Administration, Maritime Administration, Public Housing Authority, Government National Mortgage Association; (3) the following investments fully insured by the Federal Deposit Insurance Corporation ("FDIC") (i) certificates of deposit, (ii) savings account, (iii) deposit accounts, or (iv) depository receipts of a bank, savings and loan associations and mutual savings bank; (4) certificates of deposit, either in excess of FDIC insurance or without FDIC insurance, properly secured at all times, by collateral security described in clause (a) and (b) above or secured as required for a "qualified public depository" under the Florida Security for Public Deposits Act, being Chapter 280, Florida Statutes, as amended, or any successor statute. Such agreements are only acceptable with commercial banks, savings and loan associations and mutual savings banks or other "qualified public depository"; (5) commercial paper rated in one of the two highest rating categories by at least two nationally recognized rating agencies or commercial paper backed by a letter of credit or line of credit rated in one of the two highest rating categories; (6) written repurchase agreements with any bank, savings institution or trust company which is insured by the FDIC or with any broker dealer with retail customers which falls under Securities Investors Protection Corporation protection, provided that such repurchase agreements are fully secured by collateral security described in clause (1) above, and provided further that (i) such collateral is held by the City or any agent acting solely for the City during the term of such repurchase agreement, (ii) such collateral is not subject to lien or claims of third parties, (iii) such collateral has a market value (determined at least once every 14 days) at least equal to the amount invested in the repurchase agreement, (iv) the City has a perfected first security interest in the collateral, (v) the agreement shall be for a term not longer than 270 days, and (vi) the failure to maintain such collateral at the level required in (iii) above will require the City to liquidate the collateral; (7) money market funds rated in the highest rating category of either Standard & Poor's or Moody's Investors Service, or any successor thereto; (8) investments in the Local Government Surplus Funds Trust Fund established pursuant to Part N of Chapter 218, Florida Statutes, as amended, or any successor trust fund established for the investment of surplus municipal funds; and (9) any other investments permitted under Florida law and acceptable to the Bank or the Bondholder, as the case may be. "Bank" shall mean SunTrust Bank, Miami, N.A., the purchaser of the Bond Anticipation Note. 4