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1989-042
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1989-042
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Last modified
6/25/2021 1:27:48 PM
Creation date
2/4/2021 9:51:33 AM
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Resolutions
Resolution Number
1989-042
Approved Date
04/27/1989
Subject
Water & Sewer Revenue Refunding Bonds, Series 1989 - $6,510,000 aggregate
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e. obligations rated "A3" or better by Moody's Investors <br />Service and "A-" or better by Standard & Poor's <br />Corporation; <br />f. deposits, Federal funds or bankers acceptances of any <br />domestic bank, including a branch office of a foreign <br />bank which branch office is located in the United <br />States, provided legal opinions are received to the <br />effect that full and timely payment of such deposit or <br />similar obligation is enforceable against the principal <br />office or any branch of such bank, which: <br />(1) has an unsecured, uninsured and unguaranteed <br />obligation rated "Prime -1" or "A3" or better by <br />Moody's Investors Service and "A-1" or "A-" or <br />better by Standard & Poor's Corporation, or <br />(2) is the lead bank of a parent bank holding company <br />with an uninsured, unsecured and unguaranteed <br />obligation meeting the rating requirements in (1) <br />above; <br />g. deposits of any bank or savings and loan association <br />which has combined capital, surplus and undivided <br />profits of not less than $3 million, provided such <br />deposits are fully insured by the Federal Deposit <br />Insurance Corporation or Federal Savings and Loan <br />Insurance Corporation; <br />h. investments in a money-market fund rated "Am" or "Am -G" <br />or better by Standard & Poor's Corporation; <br />i. repurchase agreements with a term of one year or less <br />with any institution with debt rated "AA" or commercial <br />paper rated "A-1" (in each case by Standard & Poor's <br />Corporation); <br />repurchase agreements collateralized by Direct <br />Obligations or Agency Obligations with any registered <br />broker/dealer subject to the Securities Investors' <br />Protection Corporation jurisdiction or any commercial <br />bank, if such broker/dealer or bank has an uninsured, <br />unsecured and unguaranteed obligation rated "Prime -1" <br />or "A3" or better by Moody's Investors Service, and <br />"A-1" or "A-" or better by Standard & Poor's <br />Corporation, provided: <br />(1) a master repurchase agreement or specific written, <br />repurchase agreement governs the transaction; and <br />(2) the securities are held free and clear of any lien <br />by the Trustee or an independent third party <br />acting solely as agent for the Trustee, and such <br />
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