(A) Investments may be made in any type of security allowed in state statutes regarding the investment of public funds. Among the authorized investments are:
(1) Non-negotiable certificates of deposit and other collateralized evidence of deposits with qualified public depositories;
(2) Obligations of the United States government, its agencies and instrumentalities. However, this authorization shall specifically exclude Collateralized Mortgage Obligations (CMOs), Real Estate Mortgage Investment Conduits (REMICs), and other Principal Only (POs) and Interest Only (IOs) obligations that are secured with mortgages issued by any federal agency, instrumentality, or private firm;
(3) Public Treasurers’ Investment Pool established by § 17 of the State Treasurer Act, 15 ILCS 505/17; and
(4) Any investments authorized by the Public Funds Investment Act (30 ILCS 235.01 et seq.).
(B) Investments are to be made that reflect the cash flow needs of the fund type being invested.
(Ord. passed - -1999)