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A. Any Federal Reserve Bank, <br /> B. Any bank authorized under the laws of the United States or any state to exercise <br /> corporate trust powers, including but not limited to the bank from which the <br /> investment is purchased, <br /> C. A primary reporting dealer in United States government securities to the Federal <br /> Reserve Bank of New York, or <br /> D. A securities broker-dealer having its principal executive office in Minnesota, <br /> licensed pursuant to Chapter 80A, or an affiliate of it, regulated by the securities <br /> and exchange commission and maintaining a combined capital and surplus of <br /> $40,000,000 or more, exclusive of subordinated debt. <br /> The City's ownership of all securities in which the fund is invested should be evidenced by <br /> written acknowledgments identifying the securities by: <br /> A. The Names of issuers, <br /> B. The Maturity dates, <br /> C. The Interest rates, <br /> D. Any Serial Numbers or other distinguishing marks. <br /> The City may not invest in securities that are both uninsured and not registered in the <br /> • name of the city and are held by either : <br /> A. The counterparty or <br /> B. The counterparty's trust department or agent, but not in the name of the City. <br /> 6. CONCENTRATION OF CREDIT RISK <br /> The City will limit investments to avoid over concentration in securities from a specific <br /> issuer or business sector (excluding U.S. Treasuries and pools) by purchasing less than 5% per <br /> issuer. <br /> OR <br /> No more than 5% of the overall portfolio may be invested in the securities of a single <br /> issuer, except for the securities of the U.S. Government or an external investment pool. <br /> 7. SECURITY DEALERS, INSTITUTIONS, AND CONSULTANTS <br /> The Finance Director shall maintain a list of security dealers and financial institutions <br /> authorized to provide investment services to the City of . The Finance Director shall <br /> develop appropriate criteria, when necessary, for the further evaluation and selection of specific <br /> broker-dealers, institutions, consultants and/or external money managers. Prudence, rating <br /> services, analysis of current financial statement, key ratios and other statistical data compilation <br /> and/or specific other knowledge are expected to be utilized as components of the evaluation and <br /> 5 <br />