(a) City funds either invested in uninsured collateralized Certificates of Deposit or deposited in Non-demand savings accounts with any one Depository shall not exceed ten percent (10%) of the aggregate principal amount of the City's Investment Portfolio. City funds invested in insured Certificates of Deposit through a network of Federal Deposit Insurance Corporation member banks or savings and loan associations shall not exceed ten percent (10%) of the aggregate principal amount of the City's Investment Portfolio. Compliance with these limitations shall be determined only as of the date a new Certificate of Deposit is purchased or a deposit made in a Non-demand Savings Account.
(b) City funds invested in Certificates of Deposit in a Depository may not exceed ten percent (10%) of the Equity Capital of the Depository at any one time unless such Certificates of Deposit are entirely insured by the Federal Deposit Insurance Corporation.
(Ord. 69-12. Passed 2-28-12.)
(c) No more than ten million dollars may be invested at any one time through Repurchase Agreements with any one institution.
(d) No more than forty percent of the aggregate principal amount of the City's Investment Portfolio shall be invested at any one time in the State Treasurer's Investment Pool created pursuant to section 135.45 of the Ohio Revised Code. Within this forty percent limit, up to $15,000,000 may be further invested through a STAR Plus Federally Insured Cash Account.
(Ord. 182-13. Passed 4-30-13.)
(e) No obligation of any of the Government Agencies or Instrumentalities as set forth in Section 192.04(d) shall be purchased if such purchase would cause more than twenty-five percent (25%) of the aggregate principal amount of the City's Investment Portfolio as of the settlement date to be invested in the obligations of that individual Government Agency or Instrumentality.
(f) The maximum aggregate amount that may be invested for a period longer than three years for any one Fund shall be twenty-five percent (25%) of the lowest total of all outstanding investments for that Fund which occurred during the twelve months immediately prior to the purchase of any security with a maturity longer than three years. Compliance with this limitation shall be determined as of the settlement date only.
(g) City's Securities shall not exceed ten percent (10%) of the aggregate principal amount of the City's investment portfolio, calculated only as of the date of purchase of such City's Securities. Unless otherwise specified in the ordinance authorizing their issuance and sale and purchase by the City, City's Securities shall only be purchased to provide interim financing in anticipation of the sale of City debt in the outside market.
City of Toledo pension bonds outstanding as of the date of adoption of this section shall be excluded under this section and shall not be considered when calculating compliance with the permissible percentage limit for subsequent purchases of additional City's Securities.
(Ord. 815-04. Passed 12-21-04; Ord. 361-07. Passed 6-26-07.)