Ordinance 2298-98 - Laserfiche WebLink

timely payment of principal and interest by the United States of America; (2) obligations of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, Federal Intermediate Credit Banks, Federal Banks for Cooperatives, Federal Land Banks, Federal Home Loan Banks, or the Export-Import Bank of the United States; (3) direct obligations of, or obligations unconditionally guaranteed by, any state of the United States, or any subdivision, agency, instrumentality or authority thereof rated Aa or better by Moody's Investors Service ("Moody's") or AA or better by Standard& Poor's Corporation ("S&P"); (4) commercial paper rated Prime-1 by Moody's and A-l+ by S&P; (5) deposits with any federally or state-chartered savings and loan association, the deposits of which are insured by the FSLIC, and which are "qualified public depositories," as that term is defined in Chapter 39.58 RCW, or its successor statute; (6) deposits with any federally or state-chartered bank, the deposits of which are insured by the FDIC, and which are "qualified public depositaries," as that term is defined in Chapter 39.58 RCW, or its successor statute; (7) investments in a money market or other fund, the investments of which fund are exclusively in obligations or securities described in subsections (1), (2) or (3) above; (8) repurchase agreements with a registered broker/dealer subject to the Securities Investors' Protection Corporation Liquidation in the event of insolvency, or any commercial bank(a)whose unsecured indebtedness is rated A-2 or better by Moody's or A or better by S&P, or (b) which is the lead bank of a parent bank holding company whose unsecured indebtedness is rated A-2 or better by Moody's or A or better by S&P, or (c) having a combined capital, surplus and undivided profits of not less than $100 million, provided, that the obligation of such bank to repurchase is within the time limitation established for investments as set forth in subsection C below, and which repurchase agreement shall provide that: A. the repurchase obligation of the bank is collateralized by the securities themselves which shall be held by the City or an agent acting on behalf of the City (unless such agent is obligated under the repurchase agreement) or a third party which is a Federal Reserve -7- DOTOQ5 DOC 98/04/28