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RES 15741
City of Pleasanton
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RES 15741
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
4/21/2015
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EXHIBIT A <br /> repurchase and reverse repurchase agreements shall not exceed 20% of the <br /> City's total portfolio. <br /> I. Money Market and Mutual Funds <br /> Money market and mutual funds whose portfolios consist of government <br /> securities or diversified money market securities such as acceptable C/D's, <br /> banker's acceptances, agency discount notes, commercial paper, and other full- <br /> faith and credit obligations of the U.S. Government or its agencies. The <br /> aggregate investment in Government Security money market and mutual Funds <br /> shall not exceed 20% of the City's total portfolio. <br /> COLLATERALIZATION <br /> Collateralization will be required on active and inactive deposits in accordance with <br /> Government Code Section 53651, 53651.2, and 53652, which set forth the eligible <br /> securities and the required value of the securities to collateralize these deposits. <br /> Whenever possible, the City shall request that U.S. Treasury and Government <br /> securities be used as collateral. Repurchase agreements will be collateralized 102% <br /> with securities of the U.S. Government or its Agencies, marked to market daily. <br /> SAFEKEEPING AND CUSTODY <br /> All security transactions entered into by the City shall be conducted on a delivery- <br /> versus-payment (DVP) basis. Securities purchased from brokers/dealers will be held by <br /> a third party custodian designated by the Director of Finance and evidenced by <br /> safekeeping receipts. Securities do not literally have to be held in the name of the City <br /> but ownership is evidenced through safekeeping or custodial receipts and/or <br /> statements. <br /> TRUST AGREEMENTS <br /> The City shall direct the investment activities of trustees. Such direction shall be in <br /> keeping with the terms and conditions of its bond agreements, applicable law and <br /> policies set forth in this document. <br /> DIVERSIFICATION <br /> The City will diversify its instruments by security type and institution, meeting at least <br /> the minimum requirements as outlined in Government Code Section 53601. With the <br /> exception of U.S. Treasury securities, Federal Agency securities and authorized pools, <br /> no more than 30% of the total portfolio, and less where stated, will be invested in a <br /> single security type with no more than 5 percent invested with a single issuer. <br /> 6 <br />
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