Financial institutions and investment brokers/dealers who desire to become qualified bidders, certified dealers, certified investment advisers, or qualified depositories must be certified through the state and meet all requirements imposed by the Utah state department of financial institutions and the requirements of the Utah money management council, and act (rule 16). The Utah money management council quarterly issues a list of certified dealers, a list of certified investment advisers, and a list of qualified depositories authorized by state statute to conduct transactions with public treasurers. Transactions involving authorized deposits or investments of public funds may be conducted only through issuers of securities authorized by Utah Code Annotated section 51-7-11(3), qualified depositories included in the current state list, certified investment advisers included in the current state list, or certified dealers included in the current state list. All securities purchased from a certified dealer are required to be delivered to the city treasurer or to the city's safekeeping bank. (Eff. 4-4-2016)