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Certificates of Deposits (or Time Deposits), placed with cep=2rcial banks <br />and savings and loan companies <br />. Bankers Acceptances <br />. Local Acency Investment Fund demand deposits <br />. Repurchase Agreements and Reverse Repurchase Agreements <br />. Passbook Savings Account demand deposits. <br />Criteria for selecting investments, and the order of priority, are: <br />1. Safety <br />2. Liquidity <br />3. Yield <br />Goverr,ment and agency paper, and repurchase agreements, are the highest qua- <br />lity investment available in terns of safety and liquidity. Certificates of <br />deposits, savings accounts and bankers acceptances are insured or collatera- <br />lized. <br />h'.cst inves�ents are highly liquid, with the exception of collateralized cer- <br />tificates of deposits held by banks and savings and loans. Maturities shall <br />be selected to anticipate cash needs, thereby avoiding the need for forced <br />liquidation. <br />The City shall attempt to obtain the highest yield obtainable when selecting <br />investments, provided that criteria for safety and liquidity are met. <br />The City shall attempt to ladder its maturities to meet anticipated cash needs <br />I., such a way that new investment money can be placed in maturities that carry <br />a higher rate than is available in the extremely short market of thirty days <br />or under. <br />