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Policy and provide written comments and recommended changes. <br />12) Maintain a list of approved brokers/dealers for the City. <br />13) Provide investment manager services for the proceeds oftax-exempt bond issues <br />in compliance with the arbitrage and rebate requirements of the Internal Revenue <br />Service's Fair Market Rules. Maintain all investment records needed to perform <br />computations required by the regulations. Maintain documentation of all <br />investment and disbursement records for bond proceeds invested. <br />14) Reconcile monthly statements provided by the third-party custodian to investment <br />records maintained by the Consultant each month. <br />15) Provide assistance for the review and development of effective depository <br />contracts however, the Consultant is not authorized to make representations to any <br />third party on behalf of the City without prior City approval. <br />16) Provide customized monthly reporting. <br />Earnings and Losses from Investments <br />3.3.3 The City and the Consultant agree that all funds in the Portfolio will be invested only in <br />Authorized Investments. All earnings and profits from the investment of funds in any Account <br />will be credited to and deposited in such Account. All losses resulting from the investment of <br />funds in any Account will be charged to such Account. If there are no established Accounts, <br />then all earnings and losses from the investment of funds will be credited to, or charged against <br />the Portfolio. <br />Investment of Accounts <br />3.3.4 Invest and reinvest monies held in the Portfolio and all Accounts in Authorized <br />Investments selected by the Consultant using prudent investment standards and approved by the <br />City before settlement, in accordance with the City Investment Policy. <br />Portfolio Desi ng ation <br />3.3.5 Include funds invested in local government investment pools or certificates of deposit in <br />its investment reports to the City. The City has full discretion to designate the amount of funds <br />to be placed in the Portfolio or in separate investments. The City also has full discretion to <br />designate the amount of funds to be placed in the Portfolio or in a local government investment <br />pool for liquidity as authorized by the City Council. <br />Reports <br />3.3.6 Provide a monthly, quarterly and annual valuation of the Portfolio and any additional <br />statements that may be required by applicable law, including the reporting provisions of the <br />Public Funds Investment Act, or other applicable state law, with respect to transactions effected <br />under this Agreement. The City will define all reporting needs for information needed on a <br />daily, monthly, quarterly and annual basis. The Consultant will submit all reports of its <br />transactions to the City promptly after the end of each month. Such report will indicate the <br />~"a~ttcra~:FSaa ~~~°t~s~t~ztt~tl4P~ <br />5 <br />