Legal Documents of Maryville

The city is permitted in accordance with Tennessee Code Annotated, § 6-56-106, to invest monies of the city in the following financial instruments:

1. Bonds, notes or treasury bills of the United States.
2. Nonconvertible debt securities of the following government sponsored enterprises that are chartered by the Congress of the United States; provided, that such securities are rated in the highest category by at least two (2) nationally recognized rating services:
   
   
   
   1. The Federal Home Loan Bank;
   2. The Federal National Mortgage Association;
   3. The Federal Farm Credit Bank; or
   4. The Federal Home Loan Mortgage Corporation.
3. Any other obligations not listed in subsections (1) or (2) above that are guaranteed as to principal and interest by the United States or any of its agencies.
4. Certificates of deposit and other evidences of deposit at state and federally chartered banks and savings and loan associations.
5. The local government investment pool created by Tennessee Code Annotated, title 9, chapter 4, part 7.
6. Bonds or notes issued by, or on behalf of, the City of Maryville in accordance with Tennessee Code Annotated, title 9, chapter 21.
7. Bonds or notes backed by the direct general obligation of a state of the United States, or a political subdivision or instrumentality thereof, having general taxing powers; and are rated in either of the two (2) highest rated categories by a nationally recognized rating agency. (1999 Code, § 5-301)