The Director of Finance may invest in any instrument or security authorized by R.C. § 135.14. These investments include:
(A) Government Securities. U.S. government obligations, U.S. government agency obligations, and U.S. government instrumentality obligations, which have a liquid market with a readily determinable market value and which principal and interest payments are backed by the full faith and credit of the United States.
(B) Non-Negotiable and Negotiable Interest Bearing Time Certificates of Deposit (CD). Non-negotiable interest bearing CD's and negotiable interest bearing CD's in federally-insured banks, organized under the laws of the United States, and chartered in and located within the 50 United States, provided that such deposits are insured by the Federal Deposit Insurance Corporation (FDIC) or collateralized by the depository.
(C) Repurchase Agreements. Repurchase agreements of a bank or savings and loan association organized under the laws of the U.S. or State of Ohio for negotiable direct obligations of the United States or U.S. federal agencies. If any repurchase agreement obligations do not have the backing of the full faith and credit of the United States, any such investments shall be secured by collateral as provided in Section 11 herein.
(D) Money Market Funds. Money market funds whose portfolios consist of the foregoing divisions (A) through (C).
(E) State Treasury Asset Reserve of Ohio. The State Treasury Asset Reserve of Ohio ("STAR Ohio") is a statewide investment pool managed by the Treasurer of the State of Ohio similar in concept to a money market fund. It is available exclusively to political subdivisions of Ohio. This would include other investments options from the Treasurer of the State of Ohio including STAR Plus.
(F) Other Ohio Investment Pools. Any other investment pool operating in Ohio and available exclusively to public fund agencies of Ohio. The instruments of these pools must have the full faith and credit backing of the United States or be fully collateralized or insured.
(G) NOW Accounts. NOW Accounts, Super-NOW Accounts, or any similar account authorized by the Federal Reserve's Depository Institutions' Deregulation Committee.
(H) City of Tipp City, Ohio Notes and Bonds. Any obligation of the City of Tipp City, Ohio without regard to term-to-maturity or interest rate, is an authorized investment.
(1974 Code, § 39.31) (Ord. 9-94, passed 5-2-1994; Am. Ord. 11-19, passed 5-6-2019)