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• <br /> Police Pension Investment Policy <br /> 7.0 Authorized Financial Dealers and Institutions. The Treasurer shall <br /> maintain a list of financial institutions authorized to provide investment services. <br /> In addition, a list will also be maintained of approved security broker/dealers <br /> selected by credit worthiness, who maintain an office in the State of Washington. <br /> These may include primary dealers or regional dealers that qualify under U.S. <br /> Securities and Exchange Commission Rule 15C3-1 (uniform net capital rule). <br /> No public deposit shall be made except in a qualified public depository as <br /> established by state laws. <br /> All financial institutions and broker/dealers who desire to become qualified <br /> bidders for investment transactions must supply the Treasurer with their most <br /> recent audited financial statements. <br /> An annual review of the financial condition and registrations of such institutions <br /> and broker/dealers shall be conducted by the Treasurer. <br /> A current audited financial statement is required to be on file for each financial <br /> institution and broker/dealer in which the City invests. <br /> 8.0 Authorized & Suitable Investments. The City shall limit its investments to <br /> those allowed by R.C.W. 35.39.060 and 35.39.030. <br /> R.C.W. 35.39.030 states: <br /> "Every city and town may invest any portion of the moneys in its inactive <br /> funds or in other funds in excess of current needs in: <br /> (1) United States bonds; <br /> (2) United States certificates of indebtedness; <br /> (3) Bonds or warrants of this state; <br /> (4) General obligation or utility revenue bonds or warrants of its <br /> own or of any other city or town in the state; <br /> (5) Its own bonds or warrants of a local improvement district which <br /> are within the protection of the local improvement guaranty fund <br /> law; and <br /> (6) In any other investments authorized by law for any other taxing <br /> districts." <br /> The Treasurer may invest in the following instruments which the City has <br /> determined fall under the definition of Section (6) of R.C.W. 35.39.030 quoted <br /> above: <br /> 8.1 Obligations of the United States Government and its agencies. <br /> 8.2 Certificates of deposit of Financial Institutions (either banks or thrifts) <br /> which are qualified public depositories and which are in accordance <br /> with the restrictions placed on such deposits. <br /> 8.3 Savings or time accounts in banks, trust companies, savings and loan <br /> associations, and mutual savings banks which are conducting business in <br /> page 3 <br />