Sarasota County, Florida Notes to Financial Statements September 30, 2021 In addition to the investment instruments described in F.S. 218.415 and other investment instruments constituting permitted investments under Florida law, this investment policy formally established guidelines and authorized the County to invest in the following: (1) The Local Government Surplus Funds, Trust Fund or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act of 1969, as provided in s. 163.01, Florida Statutes. (2) Securities and Exchange Commission registered money market funds invested in the investment securities authorized hereunder. (3) Interest-bearing time deposits or savings accounts in qualified public depositories as defined in s. 280.02, Florida Statutes. (4) Direct obligations of the United States Treasury. (5) Federal agencies and instrumentalities. (6) Securities of, or other interest in, any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. ss. 80a-1 et seq., as amended from time to time, provided that the portfolio of such investment company or investment trust is limited to investment securities authorized hereunder and to repurchase agreements fully collateralized by such investment securities, and provided that such investment company or investment trust takes delivery of such collateral either directly or through an authorized custodian. (7) Other investments authorized by law or by ordinance for a county or a municipality. (8) Obligations of the following Government Agencies and Government Sponsored Enterprises (GSEs), including but not limited to: a. Export-Import Bank of the United States. b. Federal Farm Credit Banks (FFCB). c. Federal Home Loan Bank (FHLB) or its banks. d. Federal Home Loan Mortgage Corporation (FHLMC). e. Federal National Mortgage Association (FNMA). f. Financing Corporation (FICO). g. Government National Mortgage Association (GNMA). h. Overseas Private Investment Corporation (OPIC). i. Private Export Funding Corporation (PEFCO). j. Resolution Funding Corporation (REFCORP). k. Student Loan Marketing Association (SLMA). l. Tennessee Valley Authority (TVA). m. United States Agency for International Development (USAID). Permitted investments in the above listed agencies and instrumentalities shall include bonds, debentures, note or other evidence of indebtedness issued including mortgage pass-throughs, collateralized mortgage obligations, commercial mortgage backed securities, adjustable rate securities and adjustable rate mortgages. (9) Obligations guaranteed by the United States Government. (10) Commercial Paper, Notes and Bonds of U.S. Corporations. (11) Banker’s Acceptances that are eligible for purchase by the Federal Reserve Banks. (12) State and Local obligations secured by taxes or 85 essential services revenue, including those of Sarasota County.
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