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Security <br />Minimum Maximum Fund Limit <br />H. Prime commercial paper None 10% 5% <br />Prime commercial paper. For the purposes of this <br />Section "prime" commercial papers means <br />Commercial paper that has received a Standard & <br />Poor's rating of at least "A-1" or Moody's rating of <br />At least "Prime 1" <br />I. Collateralized mortgage obligations None 10% 5% <br />Collateralized Mortgage Obligations (CMO's) backed <br />By an agency of the U. S. Government but <br />Restricted to those issues which meet all of the <br />Following criteria <br />1) All issues must be backed by securities issued <br />By the Government National Mortgage Association, <br />The Federal Home Loan Mortgage Corporation(FHLMC), <br />Or the Federal National Mortgage Association(FNMA). <br />2) All issues must pass the Federal Financial <br />Institutions Examination Council(FFIEC) High <br />Risk Security Test at the time of purchase and on <br />An annual basis. Any CMO issue held in the investment <br />Manager's portfolio that fails the FFIEC test shall be sold <br />At the earliest beneficial opportunity. <br />J. Fixed income or money market mutual/trust funds None 25% 15% <br />Fixed income or money market mutual/trust funds <br />comprised of only those investment instruments <br />authorized herein. <br />