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applicable, to ensuz•e that the custodian will have the sectuity or money, as <br />appropriate, in hand at the conclusion of the transaction. <br />4. Safekeeping=Custody & Perfection of Interest -Securities shall be held <br />with a third party; and all securities purchased by, and all collateral obtained by, <br />the unit of local government should be properly designated as an asset of the unit <br />of local government. No withdrawal of securities, in whole oz in part, shall be <br />made from safekeeping az• custody, except by the Finance Director ar other <br />designee by the City Manager on an as-needed basis. <br />V. Suitable azul Autlzarizetl Investn~ents <br />This investment policy shalI~ be authorized by the City Commission, Investments <br />not listed in the investment policy are prohibited. <br />The investment portfolio shall be stt•uctttt•ed in such manner as to provide <br />sufficient liquidity to pay obligations as they come due. Ta that end, the <br />uivestment policy s}zould direct that, to the extent possible, an attempt will be <br />made to match investment maturities with known cash needs and anticipated <br />cash-flow requirements. <br />Friar to conducting transactions as authorized by this policy the Finance Du•ectar <br />shall determine the approximate maturity date based on cash~flow needs and <br />market conditions, analyze and select one or more optimal types of investment, <br />and competitively bid the security in question when feasible and appropriate. <br />Except as otherwise required by law, the bid deemed to bast meet the investment <br />objectives shall be selected, <br />Consistent with the Florida Statutes the fallowing investments will be permitted <br />by this policy, <br />1. Authorized Issuers -The criteria for authorized investments is broken <br />down into four sections. Each investment must comply with the provisions of <br />each section. These sections address who can issue authorized investments, what <br />mitutnum credit ratings these investments must have, what maturity or other <br />(imitations apply concez•tzing interest rate risk, and how much of any security znay <br />be held. Subject to additional restrictions itz this Part V, securities may be held <br />that are issued by; <br />A. The United States Treasury and Agency Securities -Securities that <br />are issued by the United States Treasury or those for which. the fill faith <br />and credit of the United States govertmient guarantees fully all principal <br />and interests payments. <br />B. Government Sponsored Enter riu ses (GSE) ~ Securities issued by <br />the Federal Farm Credit Batzk (Fk'CB), the Federal Home Loan Mortgage <br />Corporation (FHLMC), the Federal Hoazze Loan Bank (FHLB), the Federal <br />National Mortgage Association (FNMA), or the Federal Agricttlttual <br />