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3. All investment transactions shall be <br />made after first having given <br />consideration to risk and the credit <br />worthiness of the financial <br />institution, liquidity, and yields. <br />All things being equal, investments <br />shall be made with the institution <br />offering highest, competitive yield. <br />4. All investments shall. be made on a <br />competitive basis. <br />5. All deposits in banks and savings & <br />loans associations exceeding FDIC or <br />FSLIC insurance limits shall require <br />collateralization as specified in <br />Section 53649 and 53656 of the <br />Government Code. Any requests for <br />waivers of collateral on that <br />portion of the deposit fully insured <br />by FDICor FSLIC deposit insurance <br />as is permitted by Section 53653, <br />will be considered on a case by case <br />basis by the Treasurer. <br />6. All investment purchases shall be <br />limited to a maximum Imaturity date <br />of five years ('60) months or less <br />from the date of purchase, unless <br />otherwise limited by- <br />statute. <br />7. All investments shall be purchased) <br />with the intent of; holding them <br />until their final maturity. Any <br />practice bordering on speculations <br />is strictly forbidden. <br />8. A copy of each investment <br />transaction shall be given daily to <br />the Accounting Department and the <br />monthly reports required by Sections <br />53607 and 53646 of ;the Government <br />Code shall be filled with the City <br />Council. <br />9. All.. investment transactions shall be <br />immediately documented, recorded, <br />and entered into the Treasurer's <br />financial and accounting systems for <br />purposes of accountability and <br />control. <br />3 <br />