All investment vehicles allowed by Cal. Gov’t Code §§ 53601 and 53630 et seq. may be used by the city with the exception of reverse repurchase agreements. Exclusion of these vehicles is consistent with the city’s desire to minimize risk. Although the possibility exists for greater earnings with these vehicles, it is believed that the potential level of risk exceeds their benefits.
(Ord. 342, passed 12-15-1987)