(A) The city is empowered by statue to invest in the following types of securities:
(1) United States Treasury Obligations and eligible guaranteed obligations of the United States;
(2) Commercial paper;
(3) Bankers’ acceptances;
(4) The State of Ohio Treasurer’s investment pool (“Star Ohio”);
(5) Certificates of deposit;
(6) Repurchase agreements; and
(7) Mutual Funds which are invested exclusively in United States Treasury obligations.
(B) The city requires that all investments comply with the limitations with respect to length of maturities contained in R.C. Chapter 135 (the Uniform Depository Act). In addition, the city interprets the limits on federal guaranteed investments, bankers’ acceptances, commercial paper and all other legal investments very conservatively. Repurchase agreements are only authorized when a Master Repurchase Agreement is signed and on file with the bank or broker/dealer.
(Ord. 7346, passed 2-11-97)