R99-04 ADOPTING INVESTMENT POLICY

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AUTHORIZED INSTITUTIONS 1. State of Illinois Treasurer's Pool 2. Depositories - Demand Deposits a. Financial institution selected by the City shall provide nortnal banking services, including but not limited to: checking accounts, wire transfers, purchase and sale of U.S. securities and safekeeping services. b. Must be a member of FDIC or SAIF. 3. Banks and Savings and Loans - Certificates of Deposits. Any financial institution selected to be eligible for the City's competitive certificate of deposit purchase program must meet the following requirements: a. Shall provide wire transfer and safekeeping services. b. Shall be a member of FDIC or SAIF. ' c. To qualify as a depository, a financial institution must annually furnish a copy of its statement of condition or a financial report to the City, this will allow for the evaluation of the bank's financial condition. MANAGEMENT OF THE PROGRAM The Treasurer shall periodically review agreements for consistency with City policy and State law, and if desired seek review by the City's legal staff. These agreements include but are not limited to: 1. Master Repurchase Agreement 2. Wire Transfer Agreement 3. Depository Agreement 4. Safekeeping Agreement 5. Custody Agreement Management responsibility for the investment program is hereby delegated to the Finance Director, who shall establish written procedures for the operation of the investment program, consistent with this investment policy. Such procedures shall include explicit delegation of authority to persons responsible for investment transactions. No person may engage in any investment transaction except as provided under this policy and the procedures established by the Finance Director. The Finance Director shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinates. 4