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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 party safekeeping by the trust department of the City's bank or <br /> other designated third party in the City's name and control. All security transactions entered into by <br /> the City will be conducted on a delivery- 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 /> Page 6 of 12 <br />