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<br /> <br />Consulting Services Agreement between City of San Leandro and 7/1/2021 <br />Chandler Asset Management for Investment Services Exhibit F – Page 16 of 19 <br /> <br /> <br />LOCAL AGENCY INVESTMENT FUND (LAIF). A voluntary investment fund open to government <br />entities and certain non-profit organizations in California that is managed by the State <br />Treasurer’s Office. <br /> <br />LOCAL GOVERNMENT INVESTMENT POOL. Investment pools that range from the State <br />Treasurer’s Office Local Agency Investment Fund (LAIF) to county pools, to Joint Powers <br />Authorities (JPAs). These funds are not subject to the same SEC rules applicable to money <br />market mutual funds. <br /> <br />MAKE WHOLE CALL. A type of call provision on a bond that allows the issuer to pay off the <br />remaining debt early. Unlike a call option, with a make whole call provision, the issuer <br />makes a lump sum payment that equals the net present value (NPV) of future coupon <br />payments that will not be paid because of the call. With this type of call, an investor is <br />compensated, or "made whole." <br /> <br />MARGIN. The difference between the market value of a security and the loan a broker makes using <br />that security as collateral. <br /> <br />MARKET RISK. The risk that the value of securities will fluctuate with changes in overall market <br />conditions or interest rates. <br /> <br />MARKET VALUE. The price at which a security can be traded. <br /> <br />MARKING TO MARKET. The process of posting current market values for securities in a portfolio. <br /> <br />MATURITY. The final date upon which the principal of a security becomes due and payable. <br /> <br />MEDIUM TERM NOTES. Unsecured, investment-grade senior debt securities of major corporations <br />which are sold in relatively small amounts on either a continuous or an intermittent basis. <br />MTNs are highly flexible debt instruments that can be structured to respond to market <br />opportunities or to investor preferences. <br /> <br />MODIFIED DURATION. The percent change in price for a 100 basis point change in yields. <br />Modified duration is the best single measure of a portfolio’s or security’s exposure to <br />market risk. <br /> <br />MONEY MARKET. The market in which short-term debt instruments (T-bills, discount notes, <br />commercial paper, and banker’s acceptances) are issued and traded. <br /> <br />MORTGAGE PASS-THROUGH SECURITIES. A securitized participation in the interest and principal <br />cash flows from a specified pool of mortgages. Principal and interest payments made on <br />the mortgages are passed through to the holder of the security. <br /> <br />157