The Mayor or his designated representative shall, to the extent practicable, invest cash balances over the amount anticipated to be needed to meet operating requirements in any of the following:
(A) Accounts with financial institutions located in Bernalillo County, provided that the financial institutions, and the collateral securing the investments permitted by this paragraph, satisfy the requirements for the deposit of public money required by § 4-1-6.
(B) Securities that are issued by the United States government or by certain of its agencies or instrumentalities and that are either direct obligations of the United States or are backed by the full faith and credit of the United States government or agencies guaranteed or sponsored by the United States government. Only the following United States sponsored Agencies' securities are permitted for investment:
(1) Federal Home Loan Banks
(2) Federal Home Loan Mortgage Corporation
(3) Federal National Mortgage Association
(4) Federal Farm Credit Banks Funding Corporation
(5) Federal Agricultural Mortgage Corporation
All securities in this subsection must have a maturity of ten years or less at time of purchase.
(C) Bonds or securities of the State of New Mexico, a New Mexico county or municipality, or of any New Mexico school district which has a taxable valuation of real property for the last year of at least $1,000,000 and has not defaulted in the payment of interest or sinking fund obligation or failed to pay any bonds at maturity at any time within five years preceding the date of investment. All securities in this subsection must have a maturity date not exceeding ten years at time of purchase.
(D) Brokered certificates of deposit (CD's) and CD's offered by the Certificate of Deposit Account Registry Services (CDARS).
(E) Mutual funds and exchange-traded funds (ETF) that passively track a broad market, fixed income securities index, provided that the mutual fund or ETF sponsor is registered pursuant to the federal Investment Company Act of 1940 and has total assets under management of least one hundred million dollars ($100,000,000).
(F) The Local Government Investment Pool offered by the New Mexico State Treasurer and described in Section 6-10-10.1 NMSA 1978.
(G) Shares of pooled investment funds managed by the state investment officer, also known as the New Mexico State Investment Council, as provided in Subsection (G) of Section 6-8-7 NMSA 1978.
(H) Securities issued by the following supranational issuers, that are eligible for purchase and sale within the United States, that are denominated in United States dollars, and that have a maturity date not exceeding five years from the date of purchase:
(1) International Bank for Reconstruction & Development;
(2) International Finance Corporation;
(3) Inter-American Development Bank.
(I) Commercial paper issued by United States Corporations which are rated A1/P1 and have a maturity date at purchase not exceeding 180 days.
(J) Shares of money market mutual funds registered with the United States Securities And Exchange Commission (SEC), that are subject to SEC Rule 2a-7, and that assess no SEC Rule 12b-1 sales charge or sales load, deferred sales charge or sales load, or redemption fee. These shares are limited to government, prime, and tax-exempt money market mutual funds.
(K) Repurchase agreements involving the purchase and sale of securities described in subsection (B) of this section, which collateral or purchased securities are held by the city, or for the benefit of the city by a party other than the provider of the guaranteed investment contract or repurchase agreement, with a collateralized value of at least 102% of the par value of such repurchase agreement, valued at intervals of no less than daily and which collateral is not subject to any other pledge or security interest.
(L) The "short-term investment fund," also known as the Local Government Investment Pool, described in Section 6-10-10.1 NMSA 1978 or other similar pooled fund maintained by the state for the investment of public funds of local public bodies of the state.
(M) (1) Any other investment permitted at the time of the investment by any statute of the State of New Mexico for municipalities which have not adopted a home rule charter.
(2) In the event of a conflict with the statutes of the State of New Mexico and the provisions of this section, the provisions of this section, having been adopted pursuant to the provisions of Article X, Section 6 of the constitution of the state of New Mexico and the home rule Charter of the city shall prevail.
('74 Code, § 4-5-8 (part)) (Ord. 73-1975; Am. Ord. 44-1986; Am. Ord. 55-1988; Am. Ord. 29-1992; Am. Ord. 7-2001; Am. Ord. 2020-001)