AG 1998 07 13 - Laserfiche WebLink

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625 institution and/or broker/dealer not supplying requested lnfor~ation may be removed from the list by the Finance Director. 8. The County is empowered by North Carolina G.S. 159-30(c) to invest in the following types of securities: a. Obligations of the United States or obligations fully guaranteed both as to principal and interest by the United States. b. Obligations of the Federal Financing Bank, the Federal Farm Credit Bank, the Bank for Cooperatives, the Federal Intermediate Credit Bank, the Federal Land Banks, the Federal Home Loan Banks, the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, the Government National Mortgage Association, the Federal Housing Administration, the Farmers Home Administration, the United States Postal Service. c. Obligations of the State of North Carolina d. Bonds and notes of any North Carolina local government or public authority. e. Fully collateralized certificates of deposit issued by any bank or savings and loan organized under the laws of the State of North Carolina f. Prime quality commercial paper hearing the highest rating cf at least one nationally recognized rating service and not hearing a rating below the highest by any nationally recognized rating service which rates the particular obligation. g. Bankers acceptances of a commercial bank or its holding company provided that the bank or its holding company is either (i) incorporated in the State of North Carolina or (ii) has outstanding publicly held obligations bearing the highest rating of at least one nationally recognized rating service and not bearing a rating below the highest by any nationally recognized rating service which rates the particular obligations. h. Participating shares in a mutual fund for local government investment, provided that the investments of the fund are limited to those qualifying for investment under this subsection and that said fund is certified by the Local Government Commission. i. Evidences of ownership of, or fractional undivided interest in, future interest and principal payments on either direct obligations of the United States government or obligations the principal of and the interest on which are guaranteed by the United States, which obligations are held by a bank or trust company organized and existing under the laws of the United States or any state in the capacity of custodian. j. Repurchase agreements with respect to either obligations of the United States or obligations the principle of and the interest on which are guaranteed by the United States if entered into with a broker or dealer, as defined by the Securities Exchange Act of 1934, which is a dealer recognized as a primary dealer by a Federal Reserve Bank, or any commercial bank, trust company or national banking association, the deposits of which are insured by the Federal Deposit Insurance Corporation or any successor thereof. 9. All transactions, including collateral for repurchase agreements, entered into by the County will be conducted on a delivery-versus- payment basis. Securities will be held by a contracted third party custodian designated by the Finance Director and evidenced by safekeeping receipts. 10. The County will diversify its investments by security type and institution. With the exception of U.S. Treasury securities and agencies and authorized pools, no more than 35% of the County's total investment portfolio will be invested in a single security type or with a single financial institution. 11. To the extent possible, the County will attempt to match its investments with anticipated cash flow requlremeHt~. Beyond identified cash flow needs, investments will be purchased so that maturities are staggered to avoid undue concentration of assets in a single maturity range, however, the County will not directly invest in securities maturing more than (5) years from the date of purchase. The County may collateralize its repurchase agreements