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<br />Consulting Services Agreement between City of San Leandro and 7/1/2021 <br />Chandler Asset Management for Investment Services Exhibit F – Page 4 of 19 <br /> <br /> <br />VII. Authorized Financial Dealers and Institutions <br />The Finance Director will maintain a list of financial institutions and depositories authorized to <br />provide investment services. In addition, a list will be maintained of approved security <br />broker/dealers selected after conducting a process of due diligence. These may include "primary" <br />dealers or regional dealers that qualify under Securities and Exchange Commission (SEC) Rule <br />15C3-1 (uniform net capital rule). The City’s Finance Director/Treasurer will determine which <br />financial institutions are authorized to provide investment services directly to the City. Institutions <br />eligible to transact investment business with the City include: <br /> <br />1. Primary dealers and regional dealers; <br />2. Nationally or state-chartered banks; <br />3. The Federal Reserve Bank; and, <br />4. Direct issuers of securities eligible for purchase. <br /> <br />A. Selection of financial institutions and broker/dealers authorized to engage in transactions with <br />the City will be at the sole discretion of the City. <br /> <br />B. All financial institutions which desire to become qualified bidders for investment transactions <br />(and which are not dealing only with the investment adviser) must supply the Finance <br />Director/Treasurer with a statement certifying that the institution has reviewed the California <br />Government Code Section 53600 et seq. and the City’s Investment Policy. <br /> <br />C. Selection of broker/dealers used by an external investment adviser retained by the City will be <br />at the sole discretion of the investment adviser. <br /> <br />D. Public deposits will be made only in qualified public depositories as established by State law. <br />Deposits will be insured by the Federal Deposit Insurance Corporation, or, to the extent the <br />amount exceeds the insured maximum, will be collateralized in accordance with State law. <br /> <br />VIII. Authorized and Suitable Investments <br />All investments shall be made in accordance with California Government Code Sections 53600 <br />et. seq. and as described within this Investment Policy. <br /> <br />No investment shall be made in any security that has a remaining term to maturity in excess <br />of five years unless City Council has granted express authority to make the investment either <br />specifically or as part of an approved investment program. <br /> <br />Eligible Local Institutions must have received an overall Community Reinvestment Act (CRA) rating <br />of at least “satisfactory” on its most recent evaluation by the appropriate federal financial agency to <br />receive deposits from the City of San Leandro. This applies to banks, savings and loans, and credit <br />unions. <br />DocuSign Envelope ID: 8EF716EF-9F84-4654-B99B-9984574581A6