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invest in Certificates of Deposit over $100,000 only if the instrument is fully collateralized by the <br /> financial institution. <br /> i <br /> 3. Any securi ty which is a general obligation of the State of Minnesota or any of its municipalities. <br /> I <br /> 4. Statewide investment pools which invest in authorized instruments according to MN Statutes <br /> 118A.04. <br /> 5. Money market mutual funds which invest in authorized instruments according to MN Statues <br /> I I8A.04. <br /> Investments shall be structured to meet the City's current and future cash flow needs. Investments shall <br /> be done on a pooled funds basis with interest allocated on a cash balance method. Interest-bearing <br /> deposits in authorized depositories must be fully insured or collateralized. <br /> SECTION 11. COLLATERALIZATION <br /> In order to anticipate market changes and provide a level of security for all funds, the collateralization <br /> level will be 110 percent of the market value of principal and accrued interest. Collateral shall be <br /> deposited in the name of the City of Pequot Lakes subject to release by the investment officer. The <br /> primary agent shall issue a safe keeping receipt to the City listing the specific instrument rate maturity <br /> and other pertinent information. In addition, the primary agent shall issue to the City a monthly collateral <br /> report. All deposits will be insured or collateralized in accordance with Minnesota Statutes Chapter <br /> 118A. <br /> SECTION 12. REPORTING <br /> The investment officer will provide the Pequot Lakes City Council information upon request. <br /> Page 3 <br />