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An annual review of the financial condition and <br /> registrations of such institutions and broker/dealers shall <br /> be conducted by the Treasurer. <br /> A current audited financial statement is required to be on <br /> file for each financial institution and broker/dealer in <br /> which the City invests. <br /> 8.0 Authorized & Suitable Investments. The City shall <br /> limit its investments to those allowed by Revised Code of <br /> Washington (R.C.W. ) 35.39.030, which states: <br /> "Every city and town may invest any portion of the <br /> moneys in its inactive funds or in other funds in <br /> 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 <br /> warrants of its own or of any other city or town <br /> in the state; <br /> (5) Its own bonds or warrants of a local <br /> improvement district which are within the <br /> protection of the local improvement guaranty fund <br /> law; and <br /> (6) In any other investments authorized by law for <br /> any other taxing districts. " <br /> The Treasurer may invest in the following instruments which <br /> the City has determined fall under the definition of Section <br /> (6) of R.C.W. 35.39.030 quoted above: <br /> 8. 1 Obligations of the United States Government and <br /> its agencies. <br /> 8.2 Certificates of deposit of Financial Institutions <br /> (either banks or thrifts) which are qualified public <br /> depositories and which are in accordance with the <br /> restrictions placed on such deposits. <br />