§ 37.121  AUTHORIZED INVESTMENTS.
   The funds of the city available for investment shall be invested in accordance with this policy and all applicable state statutes only in the following types of investments:
   (A)   Authorized investment instruments.
      (1)   Obligations of the United States and of its agencies and instrumentalities, including obligations subject to repurchase agreements, provided that delivery of these obligations are subject to repurchase agreements is taken either or through an authorized custodian.
      (2)   Obligations and contracts for future delivery or purchase of obligations backed by the full faith and credit of the United States or a United States government agency, including but not limited to:
         (a)   United States Treasury
         (b)   Export - Import Bank of United States
         (c)   Farmers Home Administration
         (d)   Government National Mortgage Corporation
         (e)   Merchant Marine Bonds
      (3)   Obligations of any corporation of the United States government, including but not limited to:
         (a)   Federal Home Loan Mortgage Corporation
         (b)   Federal Farm Credit Banks
         (c)   Bank of Cooperatives
         (d)   Federal Intermediate Credit Banks
         (e)   Federal Land Banks
         (f)   Federal Home Loan Banks
         (g)   Federal National Mortgage Association
         (h)   Tennessee Valley Authority
      (4)   Certificates of deposit issued by or other interest-bearing accounts of any bank or savings and loan institution which are insured by the Federal Deposit Insurance Corporation or similar entity or which are collateralized, to the extent uninsured, by any obligations permitted by KRS 41.240(4).
      (5)   Uncollateralized certificates of deposit issued by any bank or savings and loan institution rated in one (1) of the three (3) highest categories by a nationally recognized rating agency.
      (6)   Bankers acceptances for banks rated in one (1) of the three (3) highest categories by a nationally recognized rating agency.
      (7)   Commercial paper rated in the highest category by a nationally recognized rating agency.
      (8)   Bonds or certificates of indebtedness of the Commonwealth of Kentucky and of its agencies and instrumentalities.
      (9)   Securities issued by a state or local government, or any instrumentality or agency thereof, in  the United States, and rated in one (1) of the three (3) highest categories by a nationally recognized rating agency.
   (B)   Limitations in investment transactions.  With regard to the investments authorized in this subchapter no investment shall be purchased for the city on a margin basis or through the use of any similar leveraging technique.
(Ord. 169-1994, passed 12-15-94)