Chapter 431. AN ACT RELATIVE TO THE INFRASTRUCTURE INVESTMENT FUND OF THE TOWN OF HOLDEN.
Be it enacted, etc., as follows:
Section 1 of chapter 365 of the acts of 1993 is hereby amended by inserting after the third paragraph the following paragraph:-
In addition to the foregoing, said treasurer may invest the proceeds on the following:-
(/') obligations of the United States or any agency or instrumentality thereof which as to principal and interest constitute direct obligations of or are guaranteed by the United States of America;
(ii) obligations of banks (certificates of deposit, time deposits and bankers' acceptances) located in the commonwealth;
(Hi) deposits in any savings bank, cooperative bank and federal savings and loan institution whose principal office is located in the commonwealth;
(iv) short-term corporate obligations, including commercial paper, notes and bonds, with ratings of not less than A-l or P-l or their equivalents by Moody's Investors Service or Standard & Poor's Corporation or their successors;
(v) corporate obligations and mortgage-backed securities with remaining maturities often years or less and rated not less than AA or its equivalent by either Moody's Investors Service or Standard & Poor's Corporation or their successors;
(v;) registered investment companies (mutual funds) that invest only in one or more of the types of securities described in clauses (/') to (v), inclusive.
Approved December 5, 1996.