(a) “Active moneys” may only be deposited in any of the following types of accounts:
(1) A commercial account that is payable or withdrawable, in whole or in part, on demand.
(2) A negotiable order of withdrawal account as authorized in the “Consumer Checking Account Equity Act of 1980", 94 Stat. 146, 12 U.S.C.A. §1832(a).
(3) A money market deposit account as authorized in the “Garn-St. Germain Depository Institutions Act of 1982", 96 Stat. 1501, 12 U.S.C.A. §3503.
(4) The State Treasurer’s Investment Pool (also known as The State Treasury Asset Reserve of Ohio or STAR OHIO) established pursuant to Ohio R.C. 135.45 or in other investment or deposit programs established by the State Treasurer pursuant to state.
(b) “Interim moneys” may only be deposited or invested in the classifications of obligations set forth in subsection (c) hereof or any other investments permitted by Ohio Revised Code Chapter 135.14.
(c) “Interim moneys” may be deposited or invested in any of the following classifications of obligations, provided that such investments must mature within five years from the date of settlement, unless the investment is matched to a specific obligation or debt of the subdivision:
(1) Bonds, notes or other obligations of or guaranteed by the United States, or those for which the faith of the United States is pledged for the payment of principal and interest thereon.
(2) Bonds, notes, debentures or other obligations or securities issued by any federal government agency, or the Export-Import Bank of Washington.
(3) Interim deposits, in the eligible institutions applying for interim moneys as provided in Ohio R.C. Section 135.08 (time certificates of deposit and savings or deposit accounts in eligible institutions).
(4) Bonds and other obligations of this State.
(5) No-load money market mutual funds consisting exclusively of obligations described in subsection (c)(1) or (2) hereof and repurchase agreements secured by such obligations, provided that investments in securities described in this division are made only through eligible institutions mentioned in Ohio R.C. 135.03.
(6) Written repurchase agreements which comply with the requirements of Ohio R.C. 135.14.
(7) Bonds, notes or other obligations of the City, included but not limited to those issued pursuant to Ohio R.C. Chapters 725, 727 and 729, at a price, rate, maturity, or other terms as determined by the Treasurer. The five year limitation on maturity or redemption set forth in Section 113.07(b) shall not apply to the City of Alliance purchasing its own notes and bonds for purposes contained in Ohio R.C. Chapter 725, 727 and 729.
(8) The State Treasurer’s Investment Pool (also known as The State Treasury Asset Reserve of Ohio or STAR OHIO) established pursuant to Ohio R.C. Section 135.45 or in other investment or deposit programs established by the State Treasurer pursuant to state.
(9) Securities and obligations from Federal National Mortgage Association (FNMA), Federal Home Loan Bank (FHLB), Federal Farm Credit Bank (FFCB), Federal Home Loan Mortgage Corporation (FHLMC), Government National Mortgage Association (GNMA), and Student Loan Marketing Association (SLMA). Must be a direct issuance of the federal agency or instrumentality.
(10) Or any other investments permitted by Ohio Revised Code Chapter 135.14.
(Ord. 60-14. Passed 9-5-14.)