Laserfiche WebLink
<br />to appropriate investment earnings benchmarks. <br />11) htitially, review the City's Investment Policy and provide written comments and <br />recommended changes. Thereafter, not less than annually, review the Investment <br />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 of tax-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 perfonn <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. <br />16) Provide customized monthly reporting. <br /> <br />Earnings and Losses from Investments <br /> <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 /> <br />Investment of Accounts <br /> <br />3.3.4 Invest and reinvest monies held in the Portfolio and all Accounts in Authorized <br />Investments selected by the Consultant and approved by the City before settlement, in <br />accordance with the City Investment Policy using prudent investment standards. <br /> <br />Portfolio Designation <br /> <br />3.3.5 Include funds invested local government investment pools or certificates of deposit in its <br />investment reports to the City. The City has full discretion to designate the amount of funds to <br />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 as authorized by the City Council for liquidity. <br /> <br />Reports <br /> <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 /> <br />5 <br />