1993 AGN APR 06 I13 - Laserfiche WebLink

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1� '1`1 "Investment Securities" shall mean and include any of the following securities, if and to the extent the same are at the time legal for investment of the Community Facilities District's funds: (i) Government Obligations; (ii) Bonds, debentures, notes, participation certificates or other evidences of indebtedness issued, or the principal of and interest on which are unconditionally guaranteed, by the Bank for Cooperatives, the Federal Intermediate Credit Bank, the Federal Home Loan Bank System, the Federal Land Banks, the Government National Mortgage Association, the Federal National Mortgage Association or any other agency or instrumentality of or corporation wholly owned by the United States of America when such obligations are backed by the full faith and credit of the United States; (iii) Obligations of any state of the United States or any political subdivision thereof, which at the time of investment are rated "Al" or higher by the Rating Agency; or which are rated by the Rating Agency "P -l" or better with respect to commercial paper, or "MIG -1" with respect to municipal notes; (iv) Bank time deposits evidenced by certificates of deposit, and bankers' acceptances, issued by any bank, trust company or national banking association insured by the Federal Deposit Insurance Corporation; provided that (a) such bank, trust company, or national banking association be rated "All' or better by the Rating Agency, or else that all of the securities acquired pursuant to this subsection (iv) be for amounts of�$100,000 or less, and with maturities of no longer than 365 days; and, (b) provided that (x) the aggregate of such bank time deposits and bankers' acceptances issued by any bank, trust company or banking association does not exceed at any one time ten percent (10%) of the aggregate of the capital stock, surplus and undivided profits of such bank, trust company or banking association and that such capital stock, surplus and undivided profits shall not be less than Twenty -Five Million Dollars ($25,000,000), or else that (y) such deposits are fully and continuously secured by a valid and perfected prior security interest in obligations described in paragraph (i) or (ii) of this definition. If the unsecured debt of such bank, trust company or national banking institution is not rated "Al" or better by the Rating Agency and if collateralized securities are acquired pursuant to this paragraph (iv), then the I M.