Page 333 - CityofHasletFY25AnnualBudget

conduct public business. The Investment Officer shall not knowingly conduct business
with any firm with whom public entities have sustained losses on investments. All
securities dealers shall provide the City with references from public entities, which they
are currently serving.

All financial institutions and broker/dealers who desire to become qualified bidders for
investment transactions must supply the following information to the City as appropriate:

 audited financial statements
 proof of National Association of Securities Dealer (NASD) certification
proof of state registration
 completed broker/dealer questionnaire
 certification of having read the City=s investment policy signed by a registered
principal of the organization
 acknowledgment that the organization has implemented reasonable procedures
and controls in an effort to preclude imprudent investment activities arising out of
investment transactions conducted between the City and the organization.

An annual review of the financial condition and registration of qualified bidders will be
conducted by the Investment Officer.

D. Selection of Qualified Brokers

The City Council shall, at least annually, review, revise, and adopt a list of qualified
brokers that are authorized to engage in investment transactions with the City.

E. Distribution of Copies of Investment Policy

1. The Investment Officer shall present a written copy of the investment policy to
any person offering to engage in an investment transaction with the City.

2. The qualified representative of the business organization offering to engage in
any investment transaction with the City shall sign a written instrument in a form
acceptable to the City and the business organization substantially to the effect
that the business organization has:

(a) received and reviewed the City’s investment policy; and

(b) implemented reasonable procedures and controls in an effort to preclude
investment transactions that are not authorized by the City’s investment policy,
except to the extent that this authorization is dependent on an analysis of the
makeup of the City’s entire portfolio or requires and interpretation of subjective
investment standards.

City of Haslet Financial Policy

Haslet Adopted Budget FY 2024-2025 331