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<br />UNIFORM POLICY AND PROCEDURES MANUAL <br /> <br />21: Accounting and Auditing <br /> <br />21:01 Investment Policy <br />01.1 Date of Last Revision <br /> <br />A. 02-01-90 <br /> <br />01.2 Definitions <br /> <br />A. "City" means the City of Paris Director of Finance who has <br />the responsibility for investing City funds. <br /> <br />B. "Deposit Accounts" means demand deposit accounts, time <br />deposit accounts, savings accounts, certificate of deposit <br />accounts, or any other similar account offered by any <br />Depository Institution. <br /> <br />C. "Depository Instituti on" means any commerci a 1 bank <br />authori zed to accept funds from the pub 1 i c for deposit, <br />whether federally or state chartered. <br /> <br />D. "Mark~t,..Average Rate of Return" means the average interest <br />rate earned on three month United States Treasury Bills. <br /> <br />E. "Person" means any depository institution, corporation, <br />general partnership, Trust, association, group, <br />individual, or entity. <br /> <br />F. "Primary Dealer" means a dealer in securities issued or <br />guaranteed by the United States government which dealer <br />regularly reports to the Federal Reserve Bank of New York <br />its sales of such securities. <br /> <br />G. "Repurchase Agreement" means an agreement entered into by <br />and between the City and any person whereby the City <br />agrees to purchase a security or securities from the other <br />party that the other party wi 11 repurchase the securities <br />or any portion of the securities from the City at a later <br />point in time at a fixed price. <br /> <br />H. "Reverse Repurchase Agreement" means any agreement entered <br />into by and between the City and any Person whereby the <br />City agrees to sella security or securities to other <br />party and simultaneously agrees to repurchase the <br />securities or any other portion of the securities from the <br />other party at a later point in time at a fixed price and <br />an agreed upon interest rate. <br /> <br />21:01-1 <br /> <br />EXHIBIT A <br />