Laserfiche WebLink
<br />X. SECURITIES DISPOSITION <br /> <br />A. Every security purchased under this section on behalf of the governing body of the City <br />must be properly earmarked and: <br /> <br />1. If registered with the issuer or its agents, must be immediately placed for <br />safekeeping in a location that protects the governing body's interest in the security; <br /> <br />2. If in book entry form, must be held for the credit of the governing body by a <br />depository chartered by the Federal Government, the state, or any other state or <br />territory of the United States which has a branch or principal place of business in <br />this state as defined in s. 658.12, or by a national association organized and <br />existing under the laws of the United States which is authorized to accept and <br />execute trusts and which is doing business in this state, and must be kept by the <br />depository in an account separate and apart from the assets of the financial <br />institution; or <br /> <br />3. If physically issued to the holder but not registered with the issuer or its agents, <br />must be immediately placed for safekeeping in a secured vault. <br /> <br />XI. SALE OF SECURITIES <br /> <br />When the invested funds are needed in whole or in part for the purposes originally <br />intended or for more optimal investments, the City may sell such investments at the then- <br />prevailing market price and place the proceeds into the proper account or fund of City. <br /> <br />XII. PRE-EXISTING CONTRACT <br /> <br />Any public funds subject to a contract or agreement existing on November 19, 2009 may <br />not be invested contrary to such contract or agreement. <br /> <br />XIII. AUDITS <br /> <br />Certified public accountants conducting audits of the City pursuant to s. 218.39 shall <br />report, as part of the audit, whether or not the City has complied with section 218.415 , <br />F.S., and this Investment Policy. <br /> <br />XIV. AUTHORIZED DEPOSITS <br /> <br />In addition to the investments authorized for the City in subsection (VIII), as authorized by <br />paragraph (23) of Section 218.415, F.S., the City may deposit any portion of surplus public <br />funds in its control or possession in accordance with the following conditions: <br /> <br />A. The funds are initially deposited in a qualified public depository, as defined in s. <br />280.02, selected by the City. <br /> <br />B. The selected depository arranges for the deposit of the funds in certificates of deposit <br /> <br />9 <br />