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New Communities Debentures -US Government guaranteed <br />debentures <br />US Public Housing Notes and Bonds -US Government <br />guaranteed public housing notes and bonds <br />US Department of Housing and Urban Development Project <br />notes and local authority bonds. <br />2. Portfolio Composition- A maximum of 30% of the portfolio may be <br />invested in United States Federal Agencies <br />3. Maturity Limitations -Limited to the maturity requirements of United <br />States Government Securities. <br />D. Federal Instramentalitics (United States Government Agencies that are non - <br />full faith and credit. <br />1. Purchase Authorization- With prior City Manager approval, the <br />Finance Director may invest in Federal Instrumentalities that <br />include obligations of the: <br />Federal Farm Credit Bank (FFCB) <br />Federal Home Loan Bank or its district banks (FHLB) <br />Federal National Mortgage Association (FNMA)- FNMA <br />guaranteed pass-through obligations. <br />Federal Home Loan Mortgage Corporation (Freddie -Macs) <br />including Federal Home Loan Mortgage Corporation participation <br />certificates. <br />Student Loan Marketing Association (Sallie -Mac) <br />Tennessee Valley Authority (TVA) <br />2. Portfolio Composition -A maximum of 30% of the portfolio may be <br />invested in Federal Instumentalities. <br />3. Limits on Individual Issuers -A maximum of 15% of the portfolio <br />may be invested in any one issuer. <br />4. Maturity Limitations -The maximum length of maturity for an <br />investment in any Federal Instrumentality is three (3) years. <br />E. Non -Negotiable Interest -Bearing Time Certificates of Deposit <br />1. Purchase Authorization -With prior City Manager approval, the <br />Finance Director may invest in non-negotiable interest-bearing <br />time certificates of deposit or savings accounts in banks or savings <br />associations organized under the laws of this state and/or in <br />national banks organized under the laws of the United States and <br />doing business and situated in this state, provided that any such <br />deposits are secured by the Florida Security for Public Deposits <br />Act, Chapter 280, Florida Statutes, and provided that the bank or <br />savings association is not listed with any recognized credit watch <br />information service. <br />2. Portfolio Composition -A maximum of 30% of the portfolio may be <br />invested in non-negotiable interest-bearing time certificates of <br />deposit or savings accounts. <br />3. Limits on Individual Issuers -A maximum of 10% of the portfolio <br />may be deposited with any one issuer. <br />4. Maturity Limitations -The maximum maturity of any certificate <br />shall be no greater than one (1) year from the time of purchase. <br />F. Repurchase Agreements <br />1. Purchase Authorization -The Finance Director, with prior City <br />Manger approval, may invest in repurchase agreements based on <br />the requirements set forth by the Master Repurchase Agreement. <br />All firms with which the City enters into a repurchase agreement <br />will have in place an executed Master Repurchase Agreement with <br />the Finance Director. <br />