Page 431 - FortWorthFY22AdoptedBudget

Banks acting in a brokerage capacity must supply the following documents to be
maintained by the Investment Officer(s) or Investment Advisor.

• annual audited financial reports
• proof of Texas State Securities registration
• City broker/dealer questionnaire
• Investment Policy and Strategy review certification

At a minimum the Investment Officer(s) or Investment Advisor shall review the
performance, financial condition and registration of all qualified financial
institutions and broker/dealers annually. Results are to be provided to the
Investment Committee for review and consideration in the annual approval of the
broker/dealer list.

IX. Existing Investments

Except as provided by Texas Government Code Chapter 2270, the City is not
required to liquidate investments that were authorized investments at the time of
purchase.

X. Authorized Investments

The Act lists all possible authorized investments available to Texas public entities.
The City shall invest only in those investments authorized below as such
investments are further defined by the Act. If this policy provides for a lower stated
maximum maturity or other more restrictive condition on an authorized
investment, the more restrictive requirement controls. If changes are made to the
Act to allow for additional possible authorized investments, such investments will
not be authorized by the City until this policy is modified and adopted by the City
Council. All investment transactions will be made on a competitive basis.

1. Direct obligations of the United States Treasury.

2. Obligations of United States government agencies and instrumentalities,
including mortgage-backed securities and collateralized mortgage obligations
(CMO) which pass the Federal Reserve’s bank test.

3. FDIC-insured and/or collateralized certificates of deposit as allowed by
law.

4. Commercial paper rated Al/Pl or equivalent by two nationally recognized
rating agencies, with a maximum stated maturity of three-hundred sixty five
(365) days.

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