(A) Investment and reinvestment of cash assets, except those specifically excluded from this policy, are authorized for public agencies under the provisions of the Public Funds Investment Act, as amended, (30 ILCS 235/0.01 et seq.)(the “Act”), provided (see Exhibit A).
(B) (1) Contained in the Act are specific requirements pertaining to investment instruments, maturities, quality, collateral and safekeeping to which Metra must adhere.
(2) In addition, the following restrictions apply to Metra investments.
(a) An investment in savings and loan associations shall only be to the maximum amount insured by the Federal Savings and Loan Insurance Corporation (“FSLIC”).
(b) No investments shall be made in any credit union.
(Ord. MET 99-24, passed 12-17-1999)