Ordinance 2083-95 - Laserfiche WebLink

• • 8.0 Authorized & Suitable Investments. The City shall limit its investments to those allowed by Revised Code of Washington (R.C.W.) 35.39.030, which states: "Every city and town may invest any portion of the moneys in its inactive funds or in other funds in excess of current needs in: (1) United States bonds; (2) United States certificates of indebtedness; (3) Bonds or warrants of this state; (4) General obligation or utility revenue bonds or warrants of its own or of any other city or town in the state; (5) Its own bonds or warrants of a local improvement district which are within the protection of the local improvement guaranty fund law; and (6) In any other investments authorized by law for any other taxing districts." The Treasurer may invest in the following instruments which the City has determined fall under the definition of Section (6) of R.C.W. 35.39.030 quoted above: 8.1 Obligations of the United States Government and its agencies. 8.2 Certificates of deposit of Financial Institutions (either banks or thrifts) which are qualified public depositories and which are in accordance with the restrictions placed on such deposits. 8.3 Savings or time accounts in banks, trust companies, savings and loan associations, and mutual savings banks which are conducting business in this state, up to the amount of the insurance afforded such accounts by the Federal Deposit Insurance Corporation or by the Federal Savings and Loan Insurance Corporation. Savings or Time Deposits may exceed Federal insurance limits if such excess is insured by the Washington Public Deposit Protection Commission (WPDPC). 8.4 Bankers Acceptances, with limitations specifically outlined in the investment procedure. 8.5 Repurchase Agreements, with limitations specifically outlined in the investment procedure. 8.6 The Washington Local Government Investment Pool.