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10.0 <br />DIVERSIFICATION <br />The Conejo Recreation and Park District will diversify its investments by security <br />type and institution. With the exceptions of U.S. Treasury securities and <br />authorized pools --such as the State LAIF and Ventura County Agency Investment <br />Fund -- no more than 10% of the Conejo Recreation and Park District's total <br />investment portfolio will be invested in a single security type or with a single <br />financial institution. <br />8.1 Permitted investments/deposits <br />Securities of the U.S. Government <br />Bankers` Acceptances <br />Commercial Paper <br />Negotiable Certificates of Deposit <br />Repurchase Agreement <br />Certificates of Deposits <br />Local Agency Investment Fund (State Pool) <br />County Agency Investment Fund <br />Savings Deposits <br />8.2 Competitive Bids -Purchase and sale of securities should be made on the <br />basis of competitive offers and bids when practical. <br />8.3 Purchases shall be made only with corporations in a rating category of "A" <br />or its equivalent or better by a nationally recognized rating service. <br />MAXIMUM MATURITIES <br />To the extent possible, the Conejo Recreation and Park District will attempt to <br />match its investments with anticipated cash flow requirements. Unless matched to <br />a specific cash flow, the Conejo Recreation and Park District will not directly invest <br />in securities maturing more than two years from the date of purchase. <br />INTERNAL CONTROL <br />10.1 A system of internal control shall be established and documented in writing. <br />The controls shall be designed to prevent losses of public funds arising <br />from fraud, employee error, misrepresentation of third parties, unanticipated <br />changes in financial markets, or imprudent actions by employees and <br />officers of the Conejo Recreation and Park District. Controls deemed most <br />El <br />