| Sylvania City School District |
| Bylaws & Policies |
6144 - INVESTMENTS
The Board of Education authorizes the Treasurer to make investments of available monies from the funds of the District in securities authorized by State law. These shall include:
| A. | bonds, notes, or other obligations of or guaranteed by the United States, or those for which the faith of the United States is pledged for payment of principal and interest thereon; | |
| B. | bonds, notes debentures, or any other obligations or securities issued by a Federal government agency or instrumentality; | |
| C. | interim deposits in Board-approved depositories; | |
| D. | bonds and other obligations of the State; | |
| E. | no-load money market mutual funds consisting exclusively of obligations described in A. and B. above or repurchase agreements secured by such obligations, provided such investments are made only through banks and savings and loan institutions authorized by R.C. 135.03; | |
| F. | the Ohio Subdivision Fund (STAR Ohio). |
Provided the Treasurer has completed additional training that has been approved under the supervision of the Auditor of State, the Treasurer is authorized to invest to a maximum of twenty-five percent (25%) of the District's interim funds in either or a combined total of:
| A. | commercial paper notes issued by a for-profit corporation, business trust or association, real estate investment trust, common-law trust, unincorporated business, or general or limited partnership which has assets exceeding $500,000,000. Such notes must: |
| 1. | be rated at the time of purchase in the highest classification established by at least two (2) rating services; | ||
| 2. | have an aggregate value that does not exceed ten percent (10%) of the outstanding commercial paper of the issuing entity; | ||
| 3. | mature within 180 days after purchase. |
| B. | Bankers acceptances of banks that are members of the FDIC and whose obligations: |
| 1. | are eligible for purchase by the Federal Reserve System; | ||
| 2. | mature no later than 180 days after purchase. |
Investments made by the Treasurer must mature within five (5) years, unless they are matched to a specific obligation or debt of the District.
The Treasurer is also authorized to enter into written repurchase agreements in accordance with 135.14(E) of the Revised Code. Such agreements may be either overnight or within a time not to exceed thirty (30) days and may only involve securities listed in A-E above.The purpose of the investments is to maximize the returns on the District's excess cash balances consistent with safety of those monies and with the desired liquidity of the investments.
In making investments authorized by Section 135.14 of the Revised Code, the Treasurer may retain the services of an investment advisor, provided the advisor is licensed by the Division of Securities under Section 1707.141 of the Revised Code, or is registered with the Securities and Exchange Commission, or is an eligible institution.The Treasurer must file a copy of this policy with the Auditor of State. This policy must be sent to all brokers, dealers and others who provide investment securities and advise to the District. They will read, sign and return the policy indicating their agreement to abide by its requirements and a copy of that agreement will be retained by the Treasurer.
I have read, understand, and agree to abide by this policy when suggesting securities to the District.
By: ______________________________________ of ______________________________________
As of: _____________________________________________________________________________
The Treasurer, acting in accord with the law, may withdraw funds from approved public depositories or sell negotiable instruments prior to maturity.
R.C. 133.23, 135.01-.21, 135.22, 45, 135.142, 3317.06, 3315.01, 3315.40, 5705.10
Revised 9/24/96
Revised 3/26/01