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City of Louisville <br />Notes to the Financial Statements <br />December 31, 2014 <br />Note 3: Deposits and investments (continued) <br />B. Investments <br />The types of investments which are authorized to be made with City funds are <br />controlled by state statutes and the investment policies of the City. Colorado <br />statutes and the City's investment policies specify investments instruments <br />meeting defined rating risk criteria in which the City may invest: <br />a. Any security issued by, fully guaranteed by, or for which the full credit of the <br />United States Treasury is pledged for payment. <br />b. Any security issued by, fully guaranteed by, or for which the full credit of the <br />following is pledged for payment: The Federal Farm Credit Bank, a Federal <br />Home Loan Bank, the Federal Home Loan Mortgage Corporation, and the <br />Federal National Mortgage Association. <br />c. Any security that is a general obligation of any state of the United States. <br />d. Any interest in a local government investment pool. <br />e. Any corporate bank security issued by a corporation or bank that is organized <br />and operated within the United States. <br />f. Any money market fund that is registered as an investment company under the <br />federal "Investment Company Act of 1940". <br />The purchase of any repurchase agreement of marketable securities. <br />g. <br />At December 31, 2014, the City's investments (at fair value) are categorized as <br />follows: <br />Account <br />Description <br />Ratings <br />Maturity <br />< 1 Year 1-5 Years Total <br />LGIP - CSAFE <br />LGIP - COLOTRUST <br />U.S. Gov't Securities <br />Commercial Paper <br />Total Investments <br />AAAm S&P <br />AAAm S&P <br />AA+istable S&P <br />A1+ S&P <br />$ 4,293,542 <br />3,936,457 <br />15,016,237 <br />3,498,840 <br />$ 4,293,542 <br />- 3,936,457 <br />13,818,639 28,834,876 <br />3,498,840 <br />$ 26,745,076 $13,818,639 $ 40,563,715 <br />Local Government Investment Pools — At December 31, 2014, the City had <br />$4,293,542 and $3,936,457 invested in the Colorado Surplus Asset Fund Trust <br />(CSAFE) and the Colorado Local Government Liquid Asset Trust (COLOTRUST), <br />local government investment pools, respectively. The pools operate under the <br />Colorado Revised Statutes (24-75-701) and are overseen by the Colorado <br />Securities Commissioner. The pools invest in securities that are specified by the <br />Colorado Revised Statutes (24-75-601). Authorized securities include U.S. <br />Treasuries, U.S. Agencies, commercial paper rated Al or better, and bank <br />deposits (collateralized through PDPA). The pools operate similar to a 2a-7-like <br />money market fund with a share value equal to $1.00 and a maximum weighted <br />average maturity of 60 days. The pools are rated AAAm by the Standards & <br />Poor's Corporation. A custodial bank provides banking services and trust custody <br />for securities held on behalf of the participating governments in the pools. The <br />50 <br />