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payment for the securities. The Authority recognizes that the custodian may designate an
agent to act for it to receive and hold certain securities (for example, securities
deliverable only in New York City). Deposits in interest bearing accounts shall be made
in such manner as to assure that funds are held as deposits in the name of the Authority at
all times.
3. Internal Controls
The investment officers shall establish a system of internal controls, which shall be
documented in writing. The internal controls are subject to review by the independent
auditor, during the normal course of the annual audit of the Authority's financial
statements. The controls shall be designed to prevent the loss of public funds arising
from fraud, employee error, misrepresentation by third parties, unanticipated changes in
financial markets, or imprudent actions by employees and officers of the Authority.
VI. Suitable and Authorized Investments
1. Authority Cash
The Authority shall, in accordance with C.R.S. Section 24- 75- 601.1, restrict its
investments of cash assets to one or more of the following instruments:
a. Direct obligations of, or guaranteed by, the U.S. Government (i.e.,
Treasury bills, notes and bonds).
b. Direct obligations of federal agencies (i.e., Government National
Mortgage Association) backed by the full faith and credit of the U.S.
Government.
C. Direct obligations of other federal agencies rated in the highest rating
category by one or more nationally recognized statistical rating organizations
( "NRSRO ") that regularly rate such obligations.
• Federal Farm Credit Bank
• Federal Land Bank
• Federal Home Loan Bank
• Federal Home Loan Mortgage Corporation
• Federal National Mortgage Association
• Additional agencies approved in the future by the Board of Directors
d. Colorado State Treasurer's Investment Pool.
e. Money market funds registered as an investment company under the
federal "Investment Company Act of 1940 ", as amended, and rated in the highest
rating category by one or more NRSRO's that regularly rate such funds.
f. Local government investment pools organized pursuant to C.R.S. Section
24 -75 -703.
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Approved and Adopted December 1. 2006