§ 34.23 SAFEKEEPING AND CUSTODY.

All security transactions, including collateral for repurchase agreements, entered into by the village shall be conducted on a delivery-versus-payment (DVP) basis. Securities will be held by an independent third party custodian designated by the Treasurer and evidenced by safekeeping receipts and a written custodial agreement.

(Res. 99-12, passed 11-6-1999)

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