For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
CERTIFICATES OF DEPOSIT/BANK DEPOSIT/SAVINGS ACCOUNTS. Time deposit open accounts, certificates of deposit and savings accounts in insured institutions as defined in state statue, in credit unions as defined in state statute or in federal credit unions, if the institution or credit union maintains a head office or a branch in this state. (State statute).
GSE - AGENCY OBLIGATIONS. U.S. Government Agencies, Government Sponsored Enterprises (GSEs), Corporations or Instrumentalities of the U.S. Government - Federal Instrumentality Securities include, but are not limited to Federal National Mortgage Association (FNMA), the Federal Home Loan Mortgage Corporation (FHLMC), Federal Home Loan Banks (FHLB), and the Federal Farm Credit Bureau (FFCB). (State statute).
LOCAL GOVERNMENT INVESTMENT POOL. State treasurer’s local investment fund up to the statutory limit per state statute.
U.S. TREASURY OBLIGATION. Direct obligations of the United States Treasury whose payment is guaranteed by the United States. (State statute note).
(Prior Code, § 3.A08.150) (Ord. 2018-22, passed 12-12-2018)