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City of South Bend Administration & Finance Policy Manual <br /> 3.0 Eligible Investment Products: <br /> Each investment officer may invest or reinvest any funds that are held by the officer and available for <br /> investment in any of the following (IC 5-13-9): <br /> 3.1 Securities backed by the full faith and credit of the United States Treasury or fully guaranteed by the <br /> United States and issued by any of the following: <br /> 1. The United States Treasury <br /> 2.A federal agency <br /> 3.A federal instrumentality <br /> 4.A federal government sponsored enterprise <br /> 3.2 Discount notes issued by any of the following: <br /> 1. A federal agency <br /> 2. A federal instrumentality <br /> 3. A federal government sponsored enterprise <br /> 3.3 An investment officer shall annually obtain the approval of the Common Council before making <br /> investments in the following: <br /> 1. Money market mutual funds that are in the form of securities of or interests in an open-end, no-load, <br /> management-type investment company or investment trust registered under the provisions of the <br /> federal Investment Company Act of 1940, as amended. The portfolio of this type must be limited to the <br /> following: <br /> A. Direct obligations of the United States <br /> B. Obligations issued by any of the following: <br /> a. A federal agency <br /> b. A federal instrumentality <br /> C. A federal government sponsored enterprise <br /> C. Repurchase agreements fully collateralized by obligations described in both A and B <br /> above. <br /> 2. The money market mutual fund must be rated as one of the following: <br /> A. AAAm, or its equivalent, by Standard and Poor's Corporation <br /> B. Aaa, or its equivalent, by Moody's Investors Service, Inc. <br /> 3.4 The investment is considered to have a stated final maturity of one day, and shall be made through <br /> depositories designated by the state board of finance as depositories for state deposits under IC 5-13- <br /> 9.5. <br /> 4 <br />