The following are authorized investment instruments for the investment of village funds. The Fiscal Officer may invest on behalf of and in the name of the village in only the following instruments at a price not to exceed their fair market value.
(A) Obligations of the U.S. Treasury, Federal Agencies, and U.S. Government-sponsored Corporations and Instrumentalities follows:
(1) Treasury bills;
(2) Treasury notes and bonds, including zero-coupon variations;
(3) Federal Farm Credit System (FFC);
(4) Federal Home Loan Bank (FHLB)
(5) Federal Home Loan Mortgage Company (FHLMC)
(6) Federal National Mortgage Association (FNMA);
(7) Government National Mortgage Association (GNMA);
(8) Resolution Funding Corporation (REFCORP);
(9) Student Loan Marketing Association (SLMA);
(10) Repurchase agreements.
(B) Nonnegotiable interest bearing time certificates of deposit and savings accounts. Nonnegotiable interest bearing time certificates of deposit and savings accounts only in commercial banks organized under the laws of this state, national banks organized under the laws of the United States, doing business in and situated in or operating a full service branch office within the boundaries of the village, provided that any such deposits and savings accounts are secured by collateral as prescribed in the section of the investment and deposit policy.
(C) STAR Ohio.
(D) NOW Accounts (Interest Bearing, Negotiable Order of Withdrawal Accounts) which are collateralized as prescribed in the section of the Investment and Deposit Policy.
(E) SWEEP Purchase Agreements.
(F) Obligation of the State of Ohio.
(Ord. 98-6-7, passed - -98)