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Other Investment Pools -The City will conduct a thorough investigation of investment pools <br />prior to making an investment. To become eligible, an investment pool will provide the following <br />information to the City: <br />• A description of eligible securities and a written statement of investment policy and objectives. <br />• A description of interest calculation methods, how interest is distributed, and how gains and <br />losses are treated. <br />• A description of safekeeping procedures and settlement processes, how often securities are <br />priced, and how often the program is audited. <br />• A description of who is eligible to invest in the program and how often, and any limitations on <br />deposits and/or withdrawals. <br />• A schedule for receiving statements and portfolio listings. <br />• Any policies regarding the use of reserves or retained earnings by the pool. <br />• A fee schedule and a description of how and when fees are assessed. <br />• Any policies regarding the pool's eligibility for bond proceeds if applicable. <br />Securities Issued by the City of San Leandro and its Agencies generally when they are <br />originally issued. The City may elect to sell or purchase its securities through secondary markets <br />when conditions are favorable. <br />See Appendix A. City of San Leandro Summary of Eligible Investments on pages 8 and 9 for a <br />tabular listing of the restrictions regarding authorized investments. <br />Safekeeping <br />Purchased securities are held in third parry safekeeping by the trust department of the City's bank or <br />other designated third parry in the City's name and control. All security transactions entered into by <br />the City will be conducted on adelivery-versus-payment (DVP) basis and evidenced by a receipt <br />issued by the safekeeping agent. <br />Collateralization <br />Collateral will always be held by an independent third party with whom the City of San Leandro <br />has a current custodial agreement. A clearly marked evidence of ownership must be supplied to the <br />City. <br />Internal Control and Review <br />The Finance Director will establish an annual review process to be conducted by an independent <br />external auditor. The review will provide internal control by assuring compliance with established <br />City policies and procedures. <br />City of San Leandro Investment Policy Page 5 of 11 <br />