With the exception of short-term repurchase agreements or “sweep” accounts, all security transactions, including collateral for long-term repurchase agreements, entered into by the county shall be conducted on a delivery-versus-payment (DVP) basis. Securities will be held by a third party custodian designated by the treasurer and evidenced by safekeeping receipts.
(‘77 Code, § 8-94) (Ord. 1592, passed 3-16-92)