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• Avoidance of physical delivery securities; • <br /> • Written confirmation of transactions for investments and wire transfers; <br /> • Password protected or dual authorization for all wire transfers outside of our own <br /> entity;and <br /> • Development of a wire transfer agreement with the lead bank. <br /> Accordingly,the Finance Director shall establish a process for an annual independent review <br /> by an external auditor to assure compliance with policies and procedures or alternatively, <br /> compliance should be assured through the City's annual independent audit. <br /> VII. SUITABLEAND AUTHORIZED INVESTMENTS <br /> 1. Investment Types <br /> Consistent with the GFOA Policy Statement on State and Local Laws Concerning Investment <br /> Practices,the following investments will be permitted by this policy and are those defined by <br /> state and local law where applicable: <br /> • U.S. Treasury obligations which carry the full faith and credit guarantee of the <br /> United States government and are considered to be the most secure instruments <br /> available; <br /> • U.S. government agency and instrumentality obligations that have a liquid market <br /> with a readily determinable market value; 110 <br /> • Certificates of deposit and other evidences of deposit at financial institutions; <br /> • Bankers' acceptances; <br /> • Commercial paper,rated in the highest tier(e.g.,A-1,P-1,F-1,or D-1 or higher)by <br /> a nationally recognized rating agency; <br /> • <br /> Page 5 of 8 <br />