(A) The city may invest in any type of security allowed for in Illinois Statutes regarding the investment of public funds.
(B) Approved investments include:
(1) Bonds, notes, certificates of indebtedness, treasury bills, or other securities, including obligations of the Government National Mortgage Association and Federal National Mortgage Association which are guaranteed as to principal by the full faith and credit of the government of the United States of America;
(2) Interest bearing savings accounts, interest bearing certificates of deposit or interest bearing time deposits or any other investment constituting direct obligations of any institution as defined by the Illinois Banking Act that is insured by the Federal Deposit Insurance Corporation;
(3) Illinois Public Treasurer’s Investment Pool; and
(4) The Illinois Metropolitan Investment Fund.
(Ord. 99-O-17, passed - -99; Am. Ord. 2001-O-13, passed - -01; Am. Ord. 2014-O-2, passed 3-24-14)