§ 3.10.080. Authorized Broker-Dealers.

A competitive process, whenever practical, will be used for investment transactions. For any investment transaction not conducted directly with the issuer, it shall be the District's policy to purchase securities only from authorized institutions and firms. No deposit of public funds shall be made except in a qualified public depository as established by state laws.

If the District plans to initiate investment transactions on its own behalf, excluding bank deposits and investments made directly with an issuer, the AGM shall maintain a list of authorized broker/dealers and financial institutions that are approved for investment purposes. All financial institutions and broker/dealers who desire to become qualified for investment transactions must supply the following as appropriate and deemed by the District:

1.

Must be in business for at least three (3) years.

2.

Proof of Financial Industry Regulatory Authority (FINRA) certification (not applicable to Certificate of Deposit counterparties).

3.

Proof of state registration.

4.

Completed broker/dealer questionnaire (not applicable to Certificate of Deposit counterparties).

5.

Certification of having read and understood and agreeing to comply with the District's Policy and are free of conflicts of interest.

6.

Evidence of adequate insurance coverage.

If the District has contracted with an investment advisor to provide investment services, the investment advisor may use their own list of approved issuers, brokers/dealers and financial institutions to conduct transactions on the District's behalf.

( Res. No. 2015-2-7, (Policy No. 8.4, § VIII), 2-10-2015 ; Res. No. 2016-2-3, (Policy No. 8.4, § VIII), 2-23-2016 ; Res. No. 2018-1-1 , (Policy No. 1.4, § 8), 1-23-2018; Res. No. 2019-2-4 , § 1(Policy No. 1.4, § 8), 2-12-2019)