Page 229 - Colleyville FY19 Budget

institutions that have its main office or branch office in this state that
are:
a. Guaranteed or insured by the Federal Deposit Insurance
Corporation, FSLIC or its successors; or
b. Secured by obligations that are described by subdivisions (1)
through (4) of this subsection, which are intended to include all
direct federal agency or instrumentality issued mortgage
backed securities, and which have a market value of not less
than the principal amount of the certificates or in any other
manner and amount provided by law for deposits of the
investing entities;

6. Invest in a local government investment pool as authorized by the
Interlocal Cooperation Act, as amended, and the Act, as amended. The
investment pool must comply with the requirements of the Public Funds
Investment Act, as amended, as follows:
a. The investment pool maintains a stable asset value of one
dollar as defined in the Act;
b. The investment pool maintains a AAA, or AAAm rating by one
of the nationally recognized rating agencies;
c. The investment pool's maximum average dollar weighted
maturity does not exceed 90 days; and
d. The investment pool's continued compliance with the
remaining provisions of the Act.
e. The eligible investments of the pool are as follows: obligations
of the United States or its agencies and instrumentalities, other
obligations, the principal of and interest on which are
unconditionally guaranteed or insured by the United States,
fully collateralized repurchase agreements with a defined
termination date secured by obligations of the United States or
its agencies and instrumentalities, other obligations, the
principal of and interest on which are unconditionally
guaranteed or insured by the United States, and SEC registered
money market funds authorized by the Act and rated in the
highest category by at least one nationally recognized rating
agency, reverse repurchase agreements with a term of no
longer than 90 days.
f. Include in its investment policy and/or operating procedures
the following information: a description of eligible investment
securities and unacceptable investments, a written statement
on investment policy and objectives, a description of interest
calculations, distribution, and treatment of gains and losses,

224