Page 234 - Colleyville FY19 Budget

Investment Procedures

The City shall enter the following agreements (if applicable): safekeeping, PSA
repurchase agreements, wire transfer agreements, banking services
contracts, and collateral/depository agreements. These contracts shall include
the explicit delegation of authority to persons responsible for the transactions
involving these agreements. No person except those designated in the
contract may engage in any investment transactions.

On all funds invested in instruments as listed in "Permissible Investments"
numbers one through five, oral bids shall be requested from at least two
broker/dealers or national banks. The City will accept the bid that provides
the highest rate of return within the maturity required and within the
parameters of this policy. Records will be kept of the bids offered, bids
accepted, and a brief explanation of the decision that was made regarding the
investment.

Qualified Institutions

A list of financial institutions, broker/dealers, and depositories authorized to
provide investment services will be maintained by the Investment Officer(s).

Certification: Section 2256.005(k) and (I) of the Act requires that any
business organization offering to engage in an investment transaction with
the City must be provided with a copy of this Investment Policy and Strategy
and must provide the City with a written instrument (in a form acceptable to
both parties) executed by a representative of the person or entity that
substantially acknowledges that the person or entity has:

1. received and reviewed the City’s Investment Policy and Strategy; and
2. implemented reasonable procedures and controls in an effort to
preclude investment transactions with the City that are not authorized
by the City’s Investment Policy and Strategy.

Any material changes to the Investment Policy and Strategy will require re-
certification by all authorized firms.

Security brokers/dealers: Annually, the City Council shall review and
adopt a list of brokers/dealers for investment purposes as recommended by
the Investment Officers.

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