Rule 38-1-1.4 - MaturitiesA. Investments in the form of direct United State Treasury obligations, United States agency obligations, certificates of deposit or repurchase agreements must mature or be redeemable by the holder on or prior to the date upon which funds will be required for disbursement.B. Except with respect to the investment of the proceeds of refunding bonds and reserves established in connection with the issuance of any bonds, the maturity of investments shall not exceed 18 months from date of purchase, unless the Issuer makes a finding in writing that a longer term investment is in the Issuer's best interest. Such finding must be spread upon the official minutes of the Issuer and provided to the State Treasurer. Investments in the form or repurchase agreements shall not in any event exceed 30 days from the date of purchase.C. To avoid interest rate risk exposure, investments should be made with the intent to hold until maturity and not for resale on the market.Miss. Code Ann. § 31-19-5 (Rev. 2007).