96-176 Ordinance - Laserfiche WebLink

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-2- Authorized Dealers and Financial Instihctions The Director of Finance will maintain a list of financial institutions and approved securities broker/dealers, selected on the basis of creditworthiness, who are authorized to provide investment services and who qualify under Section 135.14(M)(1) of the Revised Code. These may include "primary" dealers or regional dealers that qualify under Securities and Exchange Commission Rule 156-1 and are registered with the Ohio Department of Commerce to do business in the State. All financial institutions and broker/dealers who desire to become qualified suppliers of investment transactions to the City must provide to the Director of Finance audited annual financial statements, proof of good standing with the Comptroller of Cunency or with State banking regulators or National Association of Security Dealers certification, proof of Ohio registration, and biographical and regulatory information on the persons who are the primary contact with the City. All financial institutions, broker/dealers and other entities who desire to conduct investment business (advice, recommendations or transactions) with the City must sign this Investment Policy, acknowledging they have read it, understand it and, in the case of those initiating transactions, agree to abide by its contents. Authorized Investments The City is authorized by statute to invest in the following types of securities: 1. United States Treasury bills, notes, bonds or any other obligation or security issued by the United States Trea- sury or any other obligation guaranteed as to principal and interest by the United States (not including "stripped" principal or interest obligations). 2. Bonds, notes, debentures, or other obligations or securi- ties issued by any federal govemment agency or instru- mentality, including but not limited to the Federal Nation- al Mortgage Association, Federal Home Loan Bank, Federal Farm Credit Bank, Federal Home Loan Mortgage Corporation, Government National Mortgage Association and Student Loan Marketing Association. All such securities must be direct issuances of federal government agencies or instrumentalities. 3. Interim deposits in duly authorized depositories of the City, provided those deposits are properly insured or collateralized as required by law. 4. Bonds and other obligations of the State of Ohio. 5. No-load money market mutual funds consisting exclusive- ly of securities described in paragraphs 1 and 2 of this Section and repurchase agreements secured by such obligations, provided all such investments under this