Laserfiche WebLink
Bids 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 was <br /> made regarding the investment. <br /> Settlement <br /> All settlements of investments shall be on a"Delivery vs.Payment" (DVP)basis. Physical delivery shall be <br /> avoided if at all possible, with book-entry being the preferred method of safekeeping. <br /> Safekeeping and Collateralization <br /> All investment securities 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 /> Reporting Requirements <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 the <br /> Comprehensive Annual Financial Report to the City Council. The target portfolio shall be the U.S. <br /> Government Bond Yield Index for the comparable period. <br /> The motion for the adoption of the foregoing resolution was duly seconded by member Johnson and upon a <br /> vote being taken thereon, the following voted in favor thereof: Johnson, Pust, McGehee, Roe <br /> and the following voted against the same: Willmus <br /> Page 4 of 5 <br />