§ 32.30 AUTHORIZED AND SUITABLE INVESTMENTS.
   The Finance Director may invest on behalf of and in the name of the city in the following instruments at a price not exceeding their fair market value:
   (A)   United States Government Securities. Direct obligations of the Department of the Treasury of the United States of America (bills, notes, and bonds);
   (B)   United States Government Agency Securities and Instrumentalities of Government Sponsored Corporations.
      (1)   Bonds, notes, debentures or any other obligations or securities issued by any federal government agency or instrumentality, the principal and interest of which are unconditionally guaranteed by the United States; and,
      (2)   Bonds, notes, debentures, or any other obligations or securities issued by any federal government agency or instrumentality;
   (C)   Competitively Bid Interest Bearing Certificates of Deposit. Competitively bid interest bearing certificates of deposits in banks and savings and loan associations organized under the laws of Ohio, and national banks organized under the laws of the United States, doing business and situated in Ohio, provided that any such deposits are secured by collateral as prescribed herein;
   (D)   Repurchase Agreements and Reverse Repurchase Agreements. Repurchase agreements of a bank or savings and loan association organized under the laws of the United States or State of Ohio and reverse repurchase agreements for negotiable direct obligations of the United States or federal agencies. Provided, however, if any repurchase agreement obligations do not have the full faith and credit backing of the United States, any such investments shall be secured by collateral as provided in § 32.31 of this subchapter. A master repurchase agreement must be signed with the financial institution or dealer;
   (E)   Bankers Acceptance. Bankers acceptances which are eligible for purchase by the federal reserve system and which are issued by institutions which are ranked nationally as being in the top 50 in asset and deposit size within their industry;
   (F)   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 but available exclusively to political subdivisions of Ohio. State law sets the guidelines that determine the program's investment practices;
   (G)   Money Market Funds. Money market funds whose portfolios consist of those instruments listed in divisions (A) and (B) of this section.
   (H)   Now Accounts. Now accounts, super now accounts or any other similar account authorized by the Federal Reserve's Depository Institutions' Deregulation Committee; and
   (I)   Ohio Government Securities. Bonds, notes and other obligations issued by the State of Ohio or any political subdivision therein.
(Ord. 2973, passed 4-11-95)