(a) The Director of Finance and Public Record shall maintain a list of financial institutions and approved securities broker/dealers, selected on the basis of creditworthiness, who are authorized to provide investment services and who qualify under R.C. § 135.14(M)(1). These may include “primary” dealers or regional dealers that qualify under Securities and Exchange Commission Rule 15c3-1 and are registered with the Ohio Department of Commerce to do business in the state.
(b) All financial institutions and broker/dealers who desire to become qualified suppliers of investment transactions to the city must provide to the Director of Finance and Public Record:
(1) Audited annual financial statements;
(2) Proof of good standing with the Comptroller of Currency or with state banking regulators or Financial Industry Regulatory Authority certification;
(3) Proof of Ohio registration; and
(4) Biographical and regulatory information on the persons who are the primary contact with the city.
(c) All financial institutions, broker/dealers, and other entities who desire to conduct investment business (advice, recommendations, or transactions) with the city must sign this investment policy, acknowledging that they have read it, understand it, and, in the case of those initiating transactions, agree to abide by its contents.
(Ord. 16-2016, passed 7-18-2016)