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'. . <br /> MATURITY is the date upon which the principal or stated <br /> value of an investment becomes due and payable. <br /> PRIMARY DEALERS are a group of government securities dealers <br /> that submit daily reports of market activity and positions <br /> and monthly financial statements to the Federal Reserve Bank <br /> of New York and are subject to its informal oversight. <br /> Primary dealers include Securities and Exchange Commission <br /> (SEC) registered securities broker-dealers, banks and a few <br /> unregulated firms. <br /> PRINCIPAL is the invested amount on which interest is <br /> charged or earned. <br /> PRUDENT PERSON RULE is an investment standard. In this <br /> state, the R.C.W. 's state that the City's money may only be <br /> invested in a specific list of securities, as listed in the <br /> investment policy. <br /> QUALIFIED PUBLIC DEPOSITORY is a financial institution <br /> qualified under R.C.W. 39.58.010(2) which does not claim <br /> exemption from the payment of any sales or compensating use <br /> or ad valorem taxes under the laws of this state, which has <br /> segregated for the benefit of the commission eligible <br /> collateral having a value of not less that its maximum <br /> liability and which has been approved by the Public Deposit <br /> Protection Commission to hold public deposits. <br /> REPURCHASE AGREEMENT means a holder of securities sells <br /> these securities to an investor with an agreement to <br /> repurchase them as a fixed price on a fixed date. The <br /> securities "buyer" in effect leads the "seller" money for <br /> the period of the agreement, and the terms of the agreement <br /> are structured to compensate her/him for this. <br /> SAFEKEEPING is a service to customers rendered by banks for <br /> a fee whereby all securities and valuables of all types and <br /> descriptions are held in the bank's vaults for protection, <br /> or in the case of book entry securities, are held and <br /> recorded in the customers name and are inaccessible to <br /> anyone else. <br /> SECURITY TYPES include, and are differentiated, as (i) U.S. <br /> Treasury bonds and bills; (ii) U.S. certificates of <br /> indebtedness; (iii) bonds or warrants of any state, city, <br /> local improvement district, or any other local government <br /> bonds; (vi) bankers acceptances; (vii) repurchase <br /> agreements; and (viii) the Washington Local Government <br /> Investment Pool. <br />