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2 <br /> (PSA) repurchase agreements, wire transfer agreements, <br /> collateral/depository agreements, and banking service contracts. <br /> 5.75.1 The Finance Director-Treasurer and Investment Officer shall have <br /> authority to initiate investment transactions based on the <br /> recommendations of the City Investment Committee. The Finance <br /> Director-Treasurer may delegate authority to initiate investment <br /> transactions to one other City Finance Department employee as <br /> needed. <br /> 6.0 Ethics and Conflicts of Interest. The City Investment Committee <br /> members shall refrain from personal business activity that could conflict <br /> with the proper execution of the investment program, or that could impair <br /> their ability to make impartial investment decisions. City Investment <br /> Committee members shall disclose to the Mayor and the City Council any <br /> material financial interests in financial institutions that conduct business <br /> within their jurisdiction the City, and they shall further disclose any large <br /> personal financial/investment positions that could be related to the <br /> performance of the City's portfolio, particularly with regard to the timing of <br /> purchases and sales. _" . ••-• _:••••' -- -•-• .- <br /> subordinate their personal investment transactions to those of the City, <br /> particularly with regard to the timing of purchases and sales. <br /> 7.1 Authorized Financial Dealers and Institutions. The <br /> Treasurerinvestment Officer shall maintain a list of financial institutions <br /> and broker/dealers that are approvedauthorized to <br /> t r a n s a c t provide investment services to the with the City f o r <br /> investment purposesof Everett. In addition, a list will also be <br /> maintained of approved security broker/dealers who maintain an office in <br /> the State of Washington. These may include primary dealers or regional <br /> • - .. .- .•- - 1 - - • ---- .-. .. .- <br /> X7.1 All financial institutions and broker/dealers must be approved by <br /> the Investment Committee before being placed on the list.w-he- <br /> financial statements. <br /> 7.3 The Investment Officer will conduct a review of approved <br /> . u. -. -u-. __.. -a •.._ <br /> • <br /> report the result of the review to the Finance Director Treasurer and <br /> Investment Committee as needed. <br /> 03/20/01 32 <br /> 9:07AM 5 <br />