Resolution 1988-21 - Laserfiche WebLink

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of Colorado which are insured by the Federal Savings and Loan Insurance Corporation and which are approved as eligible public fund depositories by the State of Colorado Savings and Loan Commissioner. Funds shall be invested in accordance with statutes and applicable ordinances. Eligible investments shall include any investment to the extent of applicable F.D.I.C. or F.S.L.I.C. insurance coverage and shall also include any of the following: 1) United States Treasury Notes; 2) United States Treasury Bills; 3) Any federal agency note, bond, etc. , fully backed by the U.S. Treasury; 4) Certificates of Deposit; 5) Repurchase Agreements; and 6) Interest-Bearing deposits; provided, however, that any investments in Categories 4, 5, or 6 shall be secured by pledge of eligible collateral, including bonds or other interest bearing obligations of the United States or any agency thereof, or the State of Colorado or any political subdivision thereof having a market value equal to or exceeding 100 percent of the City deposit. Policy 40 The Director of Finance shall furnish the City Administrator and the City Council with a quarterly report listing all investments held by the City of Louisville. This report will include the amount of interest earned to date, allocated by fund. An annual report will be provided which will summarize investment activity for the year and will give the rate of return for the year. State and local laws require an annual audit of the financial records of the City. That audit will include a review of all investment activity for the year to review compliance with these investment procedures. The City Council appoints the following officials to serve as custodians of the funds and moneys of the City of Louisville: 1) Mayor or Mayor Pro-Tem 2) City Clerk or Deputy City Clerk 3) City Treasurer or Deputy City Treasurer 4) City Administrator 2