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r Do I <br />Dwids for purchases through the treasury auctions are not required. <br />Records will be kept of the bids offered, the bids accepted and a brief explanation of the decision that <br />was made regarding the investment. <br />0 -71 " GWWI IT, 6 1 in <br />All settlements of investments shall be on a "Delivery vs. Payment" (DVP) basis. Physical delivery <br />shall be avoided if at all possible, with book-entry being the preferred method of safekeeping. <br />Safekeeving and Collateralization <br />All investment secures purchased by the City shall be held in third-party safekeeping by an institution <br />designated as primary agent. The primary agent shall issue a safekeeping receipt to the City listing the <br />specific instrument, rate, maturity and other pertinent information. <br />Roortin,e Reguirements <br />The investment officer shall generate daily and monthly reports for management purposes. The annual <br />investment report shall be completed on a time-weighted basis and shall be included as part of th(; <br />Comprehensive Annual Financial Report to the City Council. The target portfolio shall be the U.S. <br />Govemment Bond Yield Index for the comparable period. <br />ME <br />