(A) The City Auditor will maintain a list of financial institutions authorized to provide investment services. In addition, a list will be maintained of approved security broker/dealers selected by credit worthiness, and who are authorized to provide investment services in the State of Ohio. These may include “primary” dealers or regional dealers that qualify under Securities & Exchange Commission Rule 15C3-1 (uniform net capital rule). No public deposit shall be made except in a qualified public depository as established by Ohio laws.
(B) All financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must supply the City Auditor with the following:
(1) Audited financial statements;
(2) Proof of National Association of Security Dealers certification;
(3) Trading resolution;
(4) Proof of Ohio registration;
(5) Completed broker/dealer questionnaire;
(6) Certification of having read city’s investment policy and deposit contracts.
(C) An annual review of the financial condition and registrations of qualified bidders will be conducted by the Investment Committee.
(D) A current audited financial statement is required to be on file for each financial institution and broker/dealer in which the city invests.
(Ord. 7346, passed 2-11-97)