Section 53601.6 of the Government Code lists the investments that are prohibited.
Prohibited investments shall include, but are not limited to, equity securities, inverse
floaters, range notes, interest-only strips that are derived from a pool of mortgages,
or any investment that could result in zero interest earned if held to maturity.
The purchase of any investment permitted by the Government Code, but not listed as
an authorized investment in this Policy is prohibited without the prior approval of
the Board.
