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<br />I <br />.1: <br /> <br />(t, <br /> <br />(4) The city of New Brighton shall <br />receive a confirmation/safekeeping <br />receipt with a complete description <br />of the collateral on the repo. <br /> <br />d. Certificates of Deposit <br /> <br />(1) All certificates of deposit <br />purchased by the City of New <br />Brighton are secured by F.D.I.C., <br />F.S.L.I.C. insurance. Amounts in <br />excess of $100,000 (maximum insured) <br />shall be secured by collateral as <br />required by Minnesota statutes. <br /> <br />e. Bankers Acceptances <br /> <br />(1) Bankers Acceptances shall be <br />restricted to the top SO banks <br />in the United States (as measured <br />by deposits). Investments in <br />bankers acceptances shall not be <br />made if news leads offer concerns <br />over the financial condition of <br />these banks. <br /> <br />(2) The broker, dealer or bank shall <br />verify that the bankers acceptance <br />is eligible for purchase by the <br />Federal Reserve system. <br /> <br />f. Conunercial Paper <br /> <br />(1) Commercial Paper shall be restricted <br />to issues with a rating of A-I <br />(Standard and poor t s), P~ 1 (Moody t s) , <br />or F-l (Fitch) among at least two of <br />the three rating agencies. <br /> <br />" <br /> <br />g. Money Market Funds <br /> <br />(1) The fund shall consist of United <br />States Treasury obligations and <br />Federal Agency issues and be <br />consistent with the City of New <br />Brightonts objective of preser- <br />vation of capital. <br /> <br />h. Safekeeping - Investments may be held <br />in safekeeping with: <br /> <br />(1) Any Federal Reserve bank. <br /> <br />(2) Any bank authorized under the laws <br />of the united States or any state <br />to exercise corporate trust powers, <br />including but not limited to the <br />bank from which the investment is <br />purchased. <br /> <br />(3) A primary reporting dealer in <br />United states government securities <br />who reports to the Federal Reserve <br />Bank of New York. <br /> <br />5 <br />