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02-1381 Authorizing Issuance of Utility Revenue Bonds
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02-1381 Authorizing Issuance of Utility Revenue Bonds
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8/12/2009 11:50:20 AM
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City Clerk
City Clerk - Doc Type
Resolutions
City Clerk - Date
10/14/2002
Doc Number
02-1381
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<br />(3) Direct obligations of any state of the United States of America or any subdivision or <br />agency thereof whose unsecured general obligation debt is rated "A3" or better by Moody's and "A- <br />" or better by Standard & Poor's, or any obligation fully and unconditionally guaranteed by any state, <br />subdivision or agency whose unsecured general obligation debt is rated "A3" or better by Moody's <br />and "A-" or better by Standard & Poor's. <br /> <br />(4) <br />Poor's. <br /> <br />Commercial paper rated "Prime-I" by Moody's and "A-I" or better by Standard & <br /> <br />(5) <br /> <br />Obligations rated "A3" or better by Moody's and "A-" or better by Standard & Poor's. <br /> <br />(6) Deposits, Federal funds or bankers acceptances of any domestic bank, including a <br />branch office of a foreign bank which branch office is located in the United States, provided legal <br />opinions are received to the effect that fully and timely payment of such deposit or similar obligation <br />is enforceable against the principal office or any branch of such bank, which: <br /> <br />A. has an unsecured, uninsured and unguaranteed obligation rated "Prime-I" or <br />"A3" or better by Moody's and "A-I" or "A-" or better by Standard & Poor's, or <br /> <br />B. is the lead bank of a parent holding company with an uninsured, unsecured <br />and unguaranteed obligation meeting the rating requirements in A. above. <br /> <br />(7) Deposits of any bank or savings and loan association which has combined capital, <br />surplus and undivided profits of not less than $3 million, provided such deposits are fully insured <br />by the Bank Insurance Fund or the Savings Association Insurance Fund administered by the Federal <br />Deposit Insurance Corporation. <br /> <br />(8) <br />Poor's. <br /> <br />Investments in a money-market fund rated "Am" or Am-G" or better by Standard & <br /> <br />(9) Repurchase agreements with a term of one year or less with any institution with debt <br />rated "AA" or commercial paper rated "A-I" (in each case by Standard & Poor's). <br /> <br />(10) Repurchase agreements collateralized by Direct Obligations or Agency Obligations <br />with any registered broker/dealer subject to the Securities Investors' Protection Corporation <br />jurisdiction or any commercial bank, if such broker/dealer or bank has an uninsured, unsecured and <br />unguaranteed obligation rated "Prime-I" or "A3" or better by Moody's, and "A-I" or "A-" or better <br />by Standard & Poor's, provided: <br /> <br />A. a master repurchase agreement or specific written, repurchase agreement <br />governs the transaction; and <br /> <br />B. the securities are held free and clear of any lien by the Issuer or an <br />independent third party acting solely as agent for the Issuer, and such third party is (i) a <br /> <br />3 <br />
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