The following represents instruments which are prohibited for direct investment of City funds by the Director of Finance.
1. Repurchase Agreements and Reverse Repurchase Agreements
2. Negotiable Interest Bearing Time Certificates of Deposit, savings accounts, or any other obligations of a financial institution whose principal insurer or guarantor is the Federal Savings and Loan Insurance Corporation (FSLIC).
3. Eurodollar Time Deposits and Certificates of Deposits
4. Obligations of the following Federal Agencies or U.S. Government-sponsored Corporations:
Small Business Administrations (SBA)
Export-Import Bank of Washington
General Services Administration (GSA)
Federal Home Administration (FMHA)
Federal Housing Administration (FHA)
Tennessee Valley Authority (TVA)
5. Corporate Stocks or Bonds
6. Commercial Paper
7. Bankers Acceptance
8. Stripped Back Mortgage Securities (i.e. interest only) per MAS Audit Bulletin (10-12-93)
List of Unauthorized Investment Instruments
APPROVED: Richard Drennen 1-1-94 /s/
Director of Finance
(1974 Code, Chapter 39, Appendix C) (Ord. 9-94, passed 5-2-1994)