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C <br />10, Purchased securities and all <br />collateral taken on repurchase <br />agreements shall be deposited for <br />safekeeping with a trust, department <br />of a state or nationally chartered <br />U.S, bank. Securities and/or <br />collateral shall not be held an with <br />an investment firm, in a <br />broker/dealer account, or under any <br />other safekeeping,arrangement which <br />does not effectively provide the <br />City with immediate access, <br />ownership, and control over the <br />I <br />securities. <br />5 <br />11. All collateral taken on repurchase <br />` agreements is to be priced at its <br />current market value or better. <br />{ 12. Investment confirmation and <br />collateral safekeeping receipts <br />shall be reviewed promptly following <br />` their receipt in order to verify <br />j conformity with the Treasurer's <br />investmenttransaction <br />documentation. <br />r <br />VI. Special Debt lynancina <br />From time to time,, the City Council may authorize the <br />issuance of debt in accordance with <br />State and Federal <br />laws. Given the special requirements of such debt - <br />repayment schedules, arbitrage/rebate requirements - the <br />council may choose to place the investment of these funds <br />with the City's fiscal agent. In such instances, the <br />Policy, objectives and investment restrictions shall be <br />established by, the Council by separate action and monies <br />shall not be included in the portfolio managed by the <br />Treasurer. <br />4 <br />