AB 1933 Summary

• Authorizes local agencies to invest in United States dollar denominated senior unsecured unsubordinated obligations issued or guaranteed by the International Bank for Reconstruction and Development, International Finance Corporation, or Inter-American Development Bank.

• Requires these international bank obligations to have a maximum remaining maturity of five years or less and be rated "AA" or better by a nationally recognized statistical rating organization.

• Limits investments in these international obligations to no more than 30 percent of the agency's moneys that may be invested.

• Applies to cities, districts, and local agencies that do not pool investments with other local agencies having separate governing bodies.