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3. To maintain eligibility to receive funds from and invest funds on behalf of an entity under <br />this chapter, an investment pool must furnish to the investment officer or other <br />authorized representative of the entity: <br />a) investment transaction confirmations; and <br />b) a monthly report that contains, at a minimum, the following information: <br />i. the types and percentage breakdown of securities in which the pool is invested; <br />ii. the current average dollar -weighted maturity, based on the stated maturity date, <br />of the pool; <br />iii. the current percentage of the pool's portfolio in investments that have stated <br />maturities of more than one year; <br />iv. the book value versus the market value of the pool's portfolio, using the <br />amortized cost valuation; <br />V. the size of the pool; <br />vi. the number of participants in the pool; <br />vii. the custodian bank that is safekeeping the assets of the pool; <br />viii. a listing of daily transaction activity of the entity participating in the pool; <br />ix. the yield and expense ratio of the pool; <br />X. the portfolio managers of the pool; and <br />xi. any changes or addenda to the offering circular. <br />4. An entity by contract may delegate to an investment pool the authority to hold legal title <br />as custodian of investments purchased with its local funds. <br />In this section, "yield" shall be calculated in accordance with regulations governing the <br />registration of open-end management investment companies under the Investment <br />Company Act of 1940, as promulgated from time to time by the Federal Securities and <br />Exchange Commission. <br />6. To be eligible to receive funds from and invest funds on behalf of an entity under this <br />chapter, a public funds investment pool created to function as a money market mutual <br />fund must mark its portfolio to market daily, and, to the extent reasonably possible, <br />stabilize a $1 net asset value. If the ratio of the market value of the portfolio divided by <br />the book value of the portfolio is less than 0.995 or greater than 1.005, portfolio holdings <br />shall be sold as necessary to maintain the ratio between 0.995 and 1.005. <br />7. To be eligible to receive funds from and invest funds on behalf of an entity under this <br />chapter, a public funds investment pool must have an advisory board composed: <br />