RES 06025 - Laserfiche WebLink

investment of public funds must file an annual statement of economic interests (Form 721) with the Fair Political Practices Commission. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS The Director of Finance will maintain a list of financial institutions authorized to provide investment services. In addition, a list will also be maintained of approved security broker /dealers selected by credit worthiness, who maintain an office in the State of California. These may include "primary" dealers or regional dealers that qualify under Security Exchange Commission Rule 15C3 -1 (uniform not capital rule). All broker investment transactions require the approval of authorized City staff. No public deposit shall be made except in a qualified public depository as established by state laws. All financial institutions and broker /dealers who desire to become qualified bidders for investment transactions must supply the Director of Finance with the following: audited financial statements, completed broker /dealer questionnaire, and certification of having read the City's investment policy. AUTHORIZED AND SUITABLE INVESTMENTS The City's investment portfolio may include the following instruments: a. Fully- insured or collateralized certificates of deposits (C/D's) of banks and savings and loan associations. b. Negotiable C/D's issued by the top 25 banks or top 15 regional banks. c. Bankers' Acceptances not to exceed 180 days maturity from date of purchase. d. U.S. Treasury Obligations (Bills, Notes, Bonds). e. Securities of the U.S. Government or its Agencies. f. Al/PI Commercial Paper not to exceed 270 days maturity from date of purchase. g. State of California Local Agency Investment Fund. h. Passbook Savings Accounts. i. Medium -term or corporate notes rated A or better. j. Repurchase agreements collateralized by securities of the U.S. Government or its Agencies. k. Money market and mutual funds whose portfolios consist of government securities or diversified money market securities such as acceptable C/D's, banker's acceptances, agency discount notes, commercial paper, and other full -faith and credit obligations of the U.S. Government or its Agencies.