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City of San Leandro <br />Notes to Basic Financial Statements <br />For the year ended June 30, 2012 <br /> <br /> <br />57 <br /> <br />NOTE 2 - CASH AND INVESTMENTS, Continued <br /> <br />B. Investments, continued <br /> <br />Disclosures Relating to Credit Risk <br /> <br />Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the <br />investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. <br />Presented below is the minimum rating required by (where applicable) the California Government Code, the Entity’s <br />investment policy, or debt agreements, and the actual rating as of year-end for each investment type. <br /> <br /> <br />The City’s policy requires that the management company of mutual funds must have attained the highest rating <br />provided by not less than two of the three largest nationally recognized rating organizations. <br /> <br /> Fair <br />Minimum <br />Legal <br /> Exempt <br />From <br />Investment Type Value Rating Disclosure AA+ Not Rated <br />Federal agency securities 22,457,648$ N/A -$ 22,457,648$ -$ <br />Money Market 44,586 N/A - 44,586 - <br />U.S. Treasury Notes 5,697,052 N/A 5,697,052 - - <br />Local Agency Investment Fund 50,652,190 N/A - - 50,652,190 <br />Held by Bond Trustee: <br /> U.S. Treasury Money Market Funds 8,415,922 A - 8,415,922 - <br />Total 87,267,398$ 5,697,052$ 30,918,156$ 50,652,190$ <br /> Rating as of <br />Year End <br />