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INVESTMENT POLICY OF THE CITY OF COLTON <br />10. Money market mutual funds must attain the highest ranking or the highest letter and numerical <br />Rating by not less than two of the three largest nationally recognized rating services. The purchase <br />price of the shares of beneficial interest purchased pursuant to this subdivision shall not include <br />any commission that these companies may charge and shall not exceed 10% in any one fund and <br />no more than 20% of the City's surplus money which may be invested pursuant to this section. <br />11. No more than 40% of the portfolio may be invested in Agency securities at any time. <br />Effective: September 7, 2004 - <br />Michael J. Williams CPA <br />Treasurer <br />5 <br />