Investor Presentaiton

4 THE NEW MUNICIPAL ELIGIBLE INVESTMENTS FRAMEWORK SUMMARY Using the new rules, a municipality can invest under either (1) the prudent investor standard or (2) the existing prescribed list of investments. To be eligible to invest in any security under the prudent investor standard, a municipality would have to satisfy certain fiscal criteria and establish an investment board or enter into an agreement for another municipality's investment board to manage its investments. Municipalities that are ineligible to invest under the prudent investor standard (or choose not to invest under this new standard) will continue to invest under the existing list of prescribed securities.

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