Investment Instruments. The District may invest its funds only in those instruments listed below: 1. Bonds, notes, certificates of indebtedness, treasury bills or other securities now or hereafter issued by the United States of America, its agencies and allowable instrumentalities: a. Investments in Federal National Mortgage Association issues are limited to short-term discount notes. 2. Interest bearing savings accounts, interest bearing certificates of deposit or interest bearing time deposits, or any other investments constituting direct obligations of any bank as defined by the Illinois Banking Act; 3. Certificates of deposit with federally insured institutions that are collateralized or insured at levels acceptable to the District in excess of the $100,000 provided by the Federal Deposit Insurance Corporation coverage limit; 4. Collateralized repurchase agreements which conform to the requirements stated in paragraph 2(g) or 2(h) of the Act; 5. Interest-bearing bonds of any county, township, city, village, incorporated town, municipal corporation, school district, the State of Illinois, any other state, or any political subdivision or agency of the State of Illinois or any other state, whether the interest earned is taxable or tax-exempt under federal law. The bonds shall be (a) registered in the name of the municipality, county, or other governmental unit, or held under a custodial agreement at a bank, and (b) rated at the time of purchase within the 4 highest general classifications established by a rating service of nationally recognized expertise in rating bonds of states and their political subdivisions. 6. Commercial paper meeting the following requirements: a. The corporation must be organized in the United States; b. The corporation's assets must exceed $500,000,000. c. The obligations at the time of purchase must be rated within the two highest classifications by at least two standard rating services. d. The obligations cannot have a maturity longer than 180 days. e. Not more than 33% of the total investment fund can be invested in commercial paper at any time. f. The total investment in any one corporation cannot exceed 10% of the corporation's outstanding obligations.
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Sources: School District Policies, School District Policies and Procedures
Investment Instruments. The District may invest mayinvest its funds only in onlyin those instruments listed below:
1. Bonds, notes, certificates of indebtedness, treasury bills treasurybills or other securities now or hereafter issued by the bythe United States of America, its agencies and allowable instrumentalities:
a. Investments in Federal National Mortgage Association issues are limited to short-term discount notes.
2. Interest bearing savings accounts, interest bearing certificates of deposit or interest bearing time deposits, or any other anyother investments constituting direct obligations of any bank anybank as defined by the bythe Illinois Banking Act;
3. Certificates of deposit with federally insured federallyinsured institutions that are collateralized or insured at levels acceptable to the District in excess of the $100,000 provided by the bythe Federal Deposit Insurance Corporation coverage limit;
4. Collateralized repurchase agreements which conform to the requirements stated in paragraph 2(g) or 2(h) of the Act;
5. Interest-bearing bonds of any countyanycounty, township, city, village, incorporated town, municipal corporation, school district, the State of Illinois, any other anyother state, or any political anypolitical subdivision or agency of agencyof the State of Illinois or any other anyother state, whether the interest earned is taxable or tax-exempt under federal law. The bonds shall be (a) registered in the name of the municipality, county, or other governmental unit, or held under a custodial agreement at a bank, and (b) rated at the time of purchase within the 4 highest general classifications established by a bya rating service of nationally recognized nationallyrecognized expertise in rating bonds of states and their political subdivisions.
6. Commercial paper meeting the following requirements:
a. The corporation must be organized in the United States;
b. The corporation's assets must exceed $500,000,000.
c. The obligations at the time of purchase must be rated within the two highest classifications by at byat least two standard rating services.
d. The obligations cannot have a maturity longer maturitylonger than 180 days.
e. Not more than 33% of the total investment fund can be invested in commercial paper at any timeanytime.
f. The total investment in any one anyone corporation cannot exceed 10% of the corporation's outstanding obligations.
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