§ 2-145. Additional guidelines.

(a)

The list of investments in section 2-144 is an exclusive one, and the policy should specify which investments are authorized.

(b)

Investment of funds in mutual or trust fund institutions shall be limited to 25 percent of the monies considered available for investment as provided by R.S. 33:2955(A)(2).

(c)

The Attorney General has determined that only mutual funds created as a Massachusetts business trust are acceptable investments (Op. Atty. Gen. 88-546(A)).

(d)

Cash and cash equivalents are comprised of daily cash balances above the day-to-day needs and funds set aside for portfolio strategy reasons. Shortterm investments of cash and cash equivalents may be placed in:

(1)

Obligations of the U.S. Treasury, federal agencies, or U.S. government instrumentalities (as provided in this article) with maturities of less than two years.

(2)

Time certificates of deposit, as provided in this article.

(3)

Money market mutual funds, as provided in this article.

(4)

The Louisiana Asset Management Pool, Inc. as provided in Op. Atty. Gen. 94-186.

(Ord. No. 924, 4-8-96)