(A) To protect against potential fraud and embezzlement, investment assets shall be secured through third-party custody and safekeeping procedures. Bearer instruments shall be held only through third-party institutions. The Chief Administrative Officer, Finance Director and any other officers or employees of the city authorized to engage in investment transactions shall be bonded in an amount established by the governing body.
(B) Collateralized securities, such as repurchase agreements, shall be purchased using the delivery versus payment procedure.
(Municipal Order 2018-MO-03, passed 11-12-18)