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City of San Leandro <br />Notes to Basic Financial Statements <br />For the year ended June 30, 2010 <br />NOTE 2 - CASH AND INVESTMENTS, Continued <br />B. Investments, Continued <br />Disclosures Relating to Credit Risk <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 />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 />Minimum <br />Fair Market <br />Legal <br />Investment Type <br />Value <br />Rating _ <br />Federal agency securities <br />$ 20,109,996 <br />N/A $ <br />Money Market <br />203,465 <br />N/A <br />U.S. Treasury Notes <br />7,211,600 <br />N/A <br />Mutual Fund - Dreyfus <br />344,843 <br />A <br />Local Agency Investment Fund <br />50,497,592 <br />N/A <br />Held by Bond Trustee: <br />U.S. Treasury Money Market Funds <br />5,313,526 <br />A _ <br />Exempt <br />Rating as of Rating as of <br />From <br />Year End Year End <br />Disclosure <br />AAA AA Not Rated <br />$ 20,109,996 $ <br />- <br />203,466 <br />7,211,600 <br />- <br />- <br />344,843 <br />- 50,497,592 <br />5,313,526 - - <br />Total $ 83,681,022 $ 7,211,600 $ 25,971,831 $ - $ 50,497,592 <br />52 <br />