Laserfiche WebLink
7.0 AUTHORIZED FINANCIAL INSTITUTIONS AND QUALIFIED BROKER -DEALERS <br />7.1 If the City utilizes a SEC registered external investment advisor, the advisor shall <br />maintain a list of authorized broker -dealers and complete the appropriate due diligence <br />required by the SEC. The external investment advisor may use its own list of approved <br />broker/dealers and financial institutions for investment purposes on behalf of the City. <br />The investment advisor shall submit the list of approved broker/dealers to the City's <br />FMSA investment staff on an annual basis. The Executive Finance Director may restrict <br />the use of a broker/dealer which may be deemed unsuitable. <br />8.0 AUTHORIZED AND SUITABLE INVESTMENTS <br />8.1 Allowable Investment Instruments — State Law <br />California Government Code Section 53601 establishes allowable investment <br />instruments applicable to all local agencies along with maximum maturities, <br />maximum specified percentages of total portfolio, and minimum quality requirements. <br />Section 53601.1 authorizes local agencies to invest in financial futures or financial <br />option contracts in any of the allowable investment categories enumerated in section <br />53601. <br />8.2 Authorized Investments <br />City of Santa Ana further restricts permitted investments to those listed below and <br />where applicable, the Investment Advisory Committee may reduce maximum <br />maturities, or maximum specified percentages of total portfolio (concentration limits), <br />and may increase minimum quality requirements. Within this scope, the City <br />diversifies its investments by types of investments, maturity dates, concentration <br />limits, and quality requirements. <br />A. United States Treasua Bills Notes and Bonds, for which the full faith and credit <br />of the United States are p/edged for naKment of princioal and interest. Purchases <br />of this category shall not exceed five years to maturity. There is no percentage <br />limit in this category. <br />B. Obligations issued bv a Federal A-qencZ or a United States Government <br />S rise. Federal Agency Issues include, but are not limited to <br />ponsored inter <br />GNMA (Government National Mortgage Association), FFCB (Federal Farm <br />Credit Bank), FHLB (Federal Home Loan Bank), FHLMC (Federal Home Loan <br />Mortgage Corporation), FNMA (Federal National Mortgage Association), FHA <br />(Federal Housing Administration), and TVA (Tennessee Valley Authority). <br />Although there is no percentage limitation on these issues, purchases of this <br />category shall not exceed five years to maturity and the "prudent investor" rule <br />shall apply for a single agency name as U.S. Government backing is implied <br />rather than guaranteed. <br />_Qtv of Santa - Annual Page 8 July 1. 2024 - <br />Statement of Investment Policy June 30,2025 <br />