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listings. <br /> v. A description of how reserves, retained earnings, <br /> etc., are utilized by the pool. <br /> vi. A model of the fee schedule, and when and how it is <br /> assessed. <br /> vii. A description of eligibility and/or acceptance of bond <br /> proceeds. <br /> viii. The pool must contain only the types of investment <br /> allowed by the California Code. <br /> Upon approval for participation in one or more additional investment <br /> pools, the FMSA investment staff shall, on an annual basis, <br /> investigate and reconfirm the pool's compliance with items listed <br /> above and shall monitor the pool's performance reports. <br /> 11.0 COLLATERALIZATION/SECURITY FOR DEPOSIT OF PUBLIC FUNDS <br /> Money must be deposited in state or national banks, state or federal <br /> savings associations, or state or federal credit unions in the State of <br /> California. It may be in inactive deposits, active deposits, or interest- <br /> bearing active deposits. The deposits cannot exceed the amount of the <br /> bank's or savings and loan's paid-up capital and surplus. <br /> The bank or savings and loan must secure the active and inactive <br /> deposits with eligible securities having a market value of one hundred ten <br /> percent (110%) of the total amount of the deposits. State law also allows <br /> first trust deeds with a value of one hundred fifty percent (150%) of the <br /> total amount of the deposits as an eligible security. A third class of <br /> collateral is letters of credit drawn on the Federal Home Loan Bank <br /> (FHLB). <br /> The Treasurer may, at their discretion, waive security for the portion of a <br /> deposit insured under federal law. Currently, the first two hundred fifty <br /> thousand dollars ($250,000) of a deposit is federally insured. <br /> 12.0 SAFEKEEPING AND CUSTODY <br /> In accordance with California Government Code Section 53601, to protect <br /> against potential losses caused by collapse of individual securities <br /> dealers, all securities owned by the City, except securities used as <br /> collateral for repurchase agreements, shall be kept in safekeeping with <br /> "perfected interest"by the City's custodial bank or a third-party bank trust <br /> department, acting as agent for the City under the terms of a custody <br /> agreement executed by the bank and by the City. Perfected interest refers <br /> to the establishment of a superior ownership right in and legal control over <br /> City of Santa-Annual Page 17 July 1. 2026 - <br /> Statement of Investment Policy June 30,2027 <br />