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<br />e <br /> <br />e <br /> <br />1. Commercial paper is an authorized investment under this subchapter if the commercial <br />paper; <br /> <br />a) has a stated maturity of270 days or fewer from the date of its issuance; and <br /> <br />b) is rated not less than A-lor P-l or an equivalent rating by at least; <br /> <br />c) two nationally recognized credit rating agencies; or <br /> <br />d) one nationally recognized credit rating agency and is fully secured by an irrevocable <br />letter of credit issued by a bank organized and existing under the laws of the United <br />States or any state. <br /> <br />F. Mutual Funds <br /> <br />1. A no-load money market mutual fund is an authorized investment under this subchapter <br />if the mutual fund: <br /> <br />a) is registered with and regulated by the Securities and Exchange Commission; <br /> <br />b) provides the investing entity with a prospectus and other information required by the <br />Securities and Exchange Act of 1934 (15 U.S.C. Section 80a-l et seq.); <br /> <br />c) has a dollar-weighted average stated maturity of 90 days or fewer; and <br /> <br />d) includes in its investment objectives the maintenance ofa stable net asset value of$1 <br />for each share. <br /> <br />2. In addition to a no-load money market mutual fund permitted as an authorized investment <br />in Subsection -I- (a), a no-load mutual fund is an authorized investment under this Section <br />if the mutual fund: <br /> <br />a) is registered with the Securities and Exchange Commission; <br /> <br />b) has an average weighted maturity of less than two years; <br /> <br />c) is invested exclusively in obligations approved by this subchapter; <br /> <br />d) is continuously rated as to investment quality by at least one nationally recognized <br />investment rating firm of not less than AAA or it equivalent; and <br /> <br />e) conforms to the requirements set forth in Sections G, 2 aRe 3 2256.016 (b) and (c) <br />relating to the eligibility of investment pools to receive and invest funds of investing <br />entities. <br /> <br />3. An entity is not authorized by this section to: <br /> <br />a) iRvest iR the aggr:egete HleFe tHM gg peFeeRt ef its HlElRtHly avemge R:me halmee, <br />eKelyemg heae jH'eeeees ane resef'\'es Me etHer funes hele fer eeht sen<iee, ia <br />Hleftey market Hl1:KYal mads deseribed ia Sueseetiea F, 1 er HH:ltl:Hll f~es eeserieee <br />iR SahseetieR 2, either separately er eelleeti'lely; <br /> <br />7 <br />