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FINANCIALINSTRUMENTSMaximumallowablepercentagesofthetotalportfolioforinvestments <br />arestatedasfollows: <br />InvestmentTypeMaximumLimit <br />1.InvestmentPools100% <br />2.MoneyMarketAccounts10% <br />3.CertificatesofDeposit60% <br />4.U.S.GovernmentSecurities80% <br />5.U.S.AgencySecurities80% <br />VII.SELECTIONOFFINANCIALINSTITUTIONSANDBROKERDEALERS <br />SELECTIONOFFINANCIALINSTITUTIONSDepositoriesshallbeselectedthroughtheCity'sbanking <br />servicesprocurementprocess,whichshallincludeaformalrequestforproposal(RFP)issued <br />everyfive(5)years.Inselectingdepositories,theservicesavailable,servicecosts,andcredit <br />worthinessofinstitutionsshallbeconsidered,andtheDirectorofFinanceshallconducta <br />comprehensivereviewofprospectiveķĻƦƚƭźƷƚƩźĻƭ͸creditcharacteristicsandfinancialhistory. <br />ThedepositorycontractwillprovideforcollateralifbalanceexceedsFDICInsuranceamounts. <br />TheCityshallselectfinancialinstitutionsfromwhichtheCitymaypurchasecertificatesofdeposit <br />inaccordancewiththeActandthispolicyandwillhaveawrittendepositoryagreementwiththe <br />selectedinstitution,whichwasapprovedbyresolutionofthe.ğƓƉ͸ƭBoardifcollateralisrequired. <br />TheInvestmentOfficershallmonitorthefiscalconditionoffinancialinstitutionswherecertificates <br />ofdepositareheld. <br />AUTHORIZEDFINANCIALBROKER/DEALERSANDINSTITUTIONSTheInvestmentOfficershall <br />maintainalistofbroker/dealersandfinancialinstitutionsauthorizedtoprovideinvestment <br />services.ThesemayincludeprimarydealersorregionaldealersthatqualifyunderSecurities& <br />ExchangeCommissionRule15C31(uniformnetcapitalrule).Allfinancialinstitutionsand <br />broker/dealerswhodesiretobecomequalifiedbiddersforinvestmenttransactionsmustsubmit: <br />auditedfinancialstatements,proofofFinancialIndustryRegulatoryAuthority(FINRA) <br />certification,andproofofstateregistration. <br />Beforeengagingininvestmenttransactionswithafinancialinstitutionsorbroker/dealers,the <br />InvestmentOfficershallhavereceived,fromaQualifiedRepresentativeofsaidfirm,asigned <br />CertificationForm.(ExhibitB)ThisformshallattestthattheindividualresponsiblefortheCity's <br />accountwiththatfirmhas(1)receivedandreviewedtheinvestmentpolicyoftheCity;and(2) <br />acknowledgedthatthebusinessorganizationhasimplementedreasonableproceduresand <br />controlsinanefforttoprecludeinvestmenttransactionsconductedbetweentheCityandthe <br />organizationthatarenotauthorizedbythe/źƷǤ͸ƭinvestmentpolicy,excepttotheextentthat <br />thisauthorizationisdependentonananalysisofthemakeupofthe/źƷǤ͸ƭentireportfolioor <br />requiresaninterpretationofsubjectiveinvestmentstandards.InvestmentOfficersoftheCity <br />maynotacquireorotherwiseobtainanyauthorizedinvestmentdescribedintheinvestment <br />policyfromapersonwhohasnotdeliveredasignedCertificationForm.TheFiscalAffairs <br />Committeeshallatleastannuallyreview,revise,andadoptalistofqualifiedbroker/dealersand <br />otherfinancialinstitutionsthatareauthorizedtoengageininvestmenttransactionswiththeCity. <br />(ExhibitA) <br /> <br /> <br />