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ORIGINAL
CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
From:
David C. Kennedy
City Treasurer
Subject: 2005/06 Investment Policy
Dept: City Treasurer
Date: May 18, 2005
MICC Meeting Date: June 20, 2005
Synopsis of Previous Council Action:
Resolution #2004-228 adopted July 22, 2004
Resolution #2003-194 adopted July 21, 2003
Resolution #2002-278 adopted August 21, 2002
Resolution #2001-52 adopted March 19,2001
Recommended Motion:
Adopt Resolution
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Signatur
Contact person:nAvirl r. Kennerly. r.ity TrAA!IlllrAr
phOne' AYt ~"1
Supporting data attached: Ward:
FUNDING REQUIREMENTS: Amount:
Source: (Acct. No.)
(A~M nAq~rirtinn) ".
Finance:
Council Notes:
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Agenda Item No. ---1L-
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CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
STAFF REPORT
SUBJECT:
Resolution of the Mayor and Common Council of the City of San Bernardino
acknowledging the Receipt and Filing of the Annual Statement of Investment Policy for
the Period July 1, 2005 through June 30, 2006
BACKGROUND:
The City Treasurer annually files a Statement of Investment Policy with the Mayor and
Common Council. This agenda item requests acknowledgement of receipt and filing of
the Annual Policy by the City Treasurer for the fiscal year 2005/2006.
There are no changes to this year's Investment Policy.
FISCAL IMPACT:
None
RECOMMENDATION:
Adopt Resolution.
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RESOLUTlONNO. C())IPY
RESOLUTION OF THE MAYOR A.l\j1) COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO ACKNOWLEDGING THE RECEIPT AND FILING OF THE
ANNUAL STATEMENT OF INVESTMENT POLICY FOR THE PERIOD JULY 1,2005
THROUGH JUNE 30, 2006.
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AS FOLLOWS:
SECTION 1. Recitals.
The City Treasurer of the City of San Bernardino declares the annual
Statement of Investment Policy is as set forth in Exhibit "A", attached hereto
and incorporated herein by this Reference as though fully set forth at length.
SECTION 2.
Implementation.
An annual Statement of Investment Policy for the City of San Bernardino has been
filed by the City Treasurer for the period 7/1/2005 through 6/30/2006.
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RESOLUTION OF THE MA YOR AND COMMON COUNCIL OF THE CITY OF
SAN BERNARDINO ACKNOWLEDGING THE RECEIPT AND FILING OF THE
ANNUAL STATEMENT OF INVESTMENT POLICY FOR THE PERIOD JULY 1,2005
THROUGH JUNE 30, 2006.
I HEREBY CERTIFY that the foregoing resolution was duly adopted by the
Mayor and Common Council of tbe City of San Bernardino at a
meeting
tbereof, beld on tbe _ day of
, 2005, by tbe following vote to wit:
COUNCIL MEMBERS
AYES
NAYS
ABSTAIN ABSENT
ESTRADA
LONGVILLE
MCGINNIS
DERRY
KELLEY
JOHNSON
MCCAMMACK
CITY CLERK
The foregoing resolution is hereby approved this
day of
,2005.
Judith Valles, Mayor
City of San Bernardino
Approved as to form
and legal content:
JAMES F. PENMAN
City Attorney
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INVESTMENT POLICY
1.0 Policy
It is the policy of the City of San Bernardino to invest public funds in a
manner which provide the highest investment return with the maximum
security safety, while meeting the daily cash flow demands of the City of
San Bernardino. Investments will be made 'in conformity to the
California Government Code, Sections 53601 through 53659 and
approved by the City Council of the City of San Bernardino.
2.0 Scope
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The investment policy applies to all financial assets of the City of San
Bernardino, as accounted for in the Comprehensive Annual Financial
Report and include:
Funds:
General Fund
Special Revenue Funds
Debt Service Funds
Capital Projects Funds
Enterprise Funds
Internal Service Funds
Agency Funds
3.0 Prudence
Investments shall be made with judgment and care-under
circumstances then prevailing-which persons of prudence, discretion
and intelligence exercise in the management of their own affairs, not
for speculation, but for investment, considering the probable safety of
their capital as well as the probable income to be derived.
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3.1 The standard of prudence to be used by investment officials shall
be the "prudent person" and/or "prudent investor" standard
and shall be applied in the context of managing an overall
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portfolio. Investment officers acting in accordance with written
procedures and the investment policy and exercising due
diligence shall be relieved of personal responsibility for an
individual security's credit risk or market price changes,
provided deviations from expectations are reported in a timely
fashion and appropriate action is taken to control adverse
developments.
3.2 It is the City's full intent, at the time of purchase, to hold all
investments until maturity to ensure the return of all invested
principal dollars.
4.0 Objectives
Pursuant to Government Code Sec. 53600.5 which states "When
investing, reinvesting, purchasing, acquiring, exchanging, selling, or
managing public funds, the primary objective of a trustee shall be to
safeguard the principal of the funds under its control. The secondary
objective shall be to meet the liquidity needs of the depositor. The
third objective shall be to achieve a return on the funds under its
control.
4.1 Safety: Safety of principal is the foremost objective of the City of
San Bernardino. Each investment transaction shall seek to ensure
that capital losses are avoided, whether from securities default,
broker-dealer default or erosion of market value. To attain this
objective, the City of San Bernardino will diversify its investments
by investing funds among a variety of securities offering
independent returns and financial institutions. Further, City shall
seek to preserve principal by mitigating these two types of risk-
credit risk and market risk.
4.2 Liquidity: The City of San Bernardino's investment portfolio
will remain sufficiently liquid to enable the City of San Bernardino
to meet all operating requirements which might be reasonably
anticipated. .
5.0 Delegation of Authority
Authority to manage the City of San Bernardino's investment program is
derived from Resolution No. 91-212 of the City of San Bernardino
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approved on June 4, 1991 and the Charter of the City of San Bernardino.
Such authority is given to the City Treasurer. Daily management
responsibility for the investment program is hereby delegated to the
Deputy City Treasurer who shall be responsible for all transactions
undertaken and shall establish a system of controls to regulate the
activities of subordinate officials, and theirprocedures in the absence of
the City Treasurer.
5. I Investment Procedures:
The City Treasurer shall establish written investment policy
procedures for the operation of the investment program consistent
with this policy. The procedures should include reference to
safekeeping, wire transfer agreements, banking service contracts,
and collateral/ depository agreements. Such procedures shall
include explicit delegation of authority to persons responsible for
investment transactions. No person may engage in an investment
transaction except as provided under the terms of this policy and
the procedures established by the City Treasurer.
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6.0 Ethics and Conflicts of Interest:
Officers and employees involved in the investment process shall
refrain from personal business activity that conflicts with proper
execution of the investment program, or impairs their ability to make
impartial investment decisions. Additionally, the City Treasurer is
required to annually file applicable financial disclosures as required by
the Fair Political Practices Commission (FPPC).
7.0 Authorized Financial Dealers and Institutions:
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The City Treasurer will maintain a list of financial institutions and
approved broker/dealers selected pursuant to Section 53601.5.,which
states that any investment not purchased directly from the issuer, shall
be purchased either from an institution licensed by the state as a
broker/dealer, or from a member of a federally regulated securities
exchange, from a national or state-chartered bank, from a federal or
state association or from a brokerage firm designated as a primary
government dealer by the Federal Reserve Bank. These may include
"primary" dealers or regional dealers. No public deposit shall be made
except in a qualified public depository as established by state laws.
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Additionally, all financial institutions and broker/dealers who desire to
become qualified bidders for investment transactions must supply the
treasurer with the following:
7.1 Audited financial statements
7.2 Proof of National Association of Security Dealers certification
7.3 Proof of state registration
7.4 Certification of having read entity's investment policy and
depository contracts
The Treasurer will conduct an annual review of the qualified bidders.
8.0 Authorized & Suitable Investments:
The City of San Bernardino is empowered by statute to invest in the
following securities:
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8.1 United States Treasury notes, bonds, bills, or certificates of
indebtedness, or those for which the faith and credit of the United
States are pledged for the payment of principal and interest.
Portfolio percentage: 100%
8.2 Federal agency or United States government-sponsored enterprise
obligations, participations, or other instruments, including those
issued by or fully guaranteed as to principal and interest by federal
agencies or United States government-sponsored enterprises,
including callables. There is no percentage limitation of the
portfolio, which can be invested in this category, although a 5-year
maturity limitation is applicable.
8.3 Bills of exchange or time drafts drawn on and accepted by. a
commercial bank, otherwise knovm as bankers acceptances.
Purchases of banker's acceptances may not exceed 180 days to
maturity nor exceed 40% of the agency's surplus funds, which may
be invested pursuant to this section. However, no more than 30%
of the agency's surplus funds may be invested in the banker's
acceptances of anyone commercial bank pursuant to this section.
8.4 Commercial paper of "prime" quality of the highest ranking or of
the highest letter and numerical rating as provided for by Moody's
Investors Service, Inc., or Standard and Poor's Corporation.
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Purchases of eligible commercial paper may not exceed 25% of the
agency's surplus money. Purchases of eligible commercial paper
may not exceed 270 days to maturity.
8.5 Negotiable certificates of deposit issued by a nationally or state-
chartered bank or a savings association or federal association or a
state or federal credit union or by a state-licensed branch of a
foreign bank. Purchases of negotiable certificates of deposit may
not exceed 30% of the agency's surplus money, which may be
invested pursuant to this section. A maturity limitation of five
years is applicable.
8.6 Time deposits, non-negotiable and collateralized in accordance with
the California Government Code, may be purchased through banks
or savings and loan associations. Since time deposits are not
liquid, no more than 25% of the cash surplus may be invested in
time deposits.
8.7 Medium-term notes, defined as all corporate and depository
institution debt securities with a maximum remaining maturity of 5
years or less, issued by corporations organized and operating
within the United States or by depository institutions licensed by
the United States or any state and operating within the United
States. Securities eligible for investment shall be rated AA or
better by Moody's or Standard & Poor's rating services. Purchase
of medium term notes may not exceed 30% of the surplus cash and
no more than 15% of the market value of the portfolio may be
invested in notes issued by one corporation. Commercial paper
holdings should also be included when calculating the 15%
limitation.
8.8 Any mortgage passthrough security, collateralized mortgage
obligation, mortgage-backed or other pay-through bond, equipment
lease-backed certificate, consumer receivable passthrough
certificate, or consumer receivable-backed bond of a maximum of
5 years maturity, having an "A" or higher rating for the issuer's
debt and rated in a rating category of "AA" or equivalent or better
by a nationally recognized rating seryice. Authorized securities
may not exceed 20% of the agency's surplus money.
8.9 Various daily cash funds including short-term money market
accounts administered for or by trustees, paying agents and
custodian banks contracted by the City of San Bernardino may be
purchased as allowed under State of California Government Code.
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Only funds holding U. S. Treasury or government agency
obligations can be utilized.
9.0 Local Agency Investment Fund (LAIF):
State of California managed investment pool, may be used up to the
maximum permitted by California State Law.
10.0 Maximum Maturities:
To the extent possible, the City of San Bernardino will attempt to
match its investments with anticipated cash flow requirements.
Unless matched to a specific cash flow, the City of San Bernardino
will not directly invest in securities maturing more than five years
from the date of purchase. Such an investment will only be made with
Council approval.
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Reserve funds may be invested in securities exceeding five years if
the maturity of such investments is made to coincide as nearly as
practicable with the expected use of the funds.
10.1 The city will attempt to balance maturities, at the time of
investment, in accordance with the following guidelines:
Maturity Range
1 day to 364 days
1 year to 2 years
2 years to 3 years
3 years to 4 years
4 years to 5 years
Percentage of Surplus Cash
10 to 50%
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11.0 Diversification
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The City of San Bernardino will diversify its investments by security
type and institution.
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The following summary of maximum percentage limits, by instrument,
are established for the City of San Bernardino's total portfolio:
Investment Type
Local Agency Investment Fund
U.S. Treasury BondslNotes/Bills
U. S. Government Agency Obligations_
U. S. Government Agency Callables
Bankers' Acceptance
Commercial Paper
Negotiable Certificates of Deposit
Time Certificates of Deposit
Medium Term Corporate Notes
Cash funds and Money Market accounts
Passbook savings/demand deposits
Mortgage Pass Through Securities
12.0 Safekeeping and Custody:
- $40,000,000
100%
100%
75%
40%
25%
30%
25%
30%
20%
20%
20%
All security transactions entered into by the City of San Bernardino
shall be conducted on a delivery-versus-payment (DVP) basis.
Securities will be held by a third party custodian designated by the
Treasurer and evidenced by safekeeping receipts.
13.0 Internal Controls:
The Treasurer shall establish an annual process of independent review
by an external auditor. This review will provide internal control by
assuring compliance with policies and procedures.
, 14.0 Reporting
The Treasurer shall provide the Mayor, City Administrator, Finance
Director, City of San Bernardino Water Finance Director, City
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Attorney, City Clerk, and City Council quarterly investment reports
which provide a clear picture of the status of the current investment
portfolio. Schedules in the monthly report should include the
following:
. A listing of individual securities held at the end of the
reporting period by authorized investment category.
. A verage life and final maturity of all investments listed.
. Coupon, discount or earnings rate
. Par value, Amortized Book Value and Market Value
. Percentage of the Portfolio represented by each investment
category
15.0 Investment Policy Adoption:
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The City of San Bernardino's investment policy shall be adopted by
resolution of the City Council. The policy shall be reviewed annually
by the City Council and any modifications made thereto must be
approved by the City Council.
16.0 Portfolio Management Activity:
The City of San Bernardino's investment program shall seek to
augment returns consistent with the intent of this policy, identified
risk limitations and prudent investment principles.
17.0 Interest Earnings
All moneys earned and collected from investments authorized in this
policy shall be allocated monthly to various fund accounts based on
the cash balance in each fund as a percentage of the entire pooled
portfolio.
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2004-228
GLOSSARY
AGENCIES:
and/or
enterprises.
Federal agency securities
Government-sponsored
ASKED: The price at which securities
are offered.
BANKERS' ACCEPTANCE (BA): a draft
or bilI or exchange accepted by a bank
or trust company. The accepting
institution guarantees payment of the
bill, as well as the issuer.
BID: The price offered by a buyer of
securities. (When you are selling
securities, you ask for a bid.) See Offer.
BOND: An interest-bearing security
issued by a corporation, government,
governmental agency or other body,
which can be executed through a bank
or trust company. A bond is a form of
debt with an interest rate, maturity, and
face value, and is usually secured by
specific assets. Most bonds have a
maturity of greater than one year, and
generally pay mterest semi-annually.
BROKER: A broker brings buyers and
sellers together for a commission.
CALLABLE: A feature which states a
bond or preferred stock may be
redeemed by the issuer prior to
maturity under terms designated prior
to issuance.
CERTIFICATE OF DEPOSIT (CD): A
time deposit with a specific
evidenced by a certificate.
denomination CD's are
negotiable.
maturity
Large-
typically
COLLATERAL: Securities, evidence of
deposit or other property which a
borrower pledges to secure repayment
of a loan. Also refers to securities
pledged by a bank to secure deposits of
pu blic monies.
COMMERCIAL PAPER: Short-term,
unsecured, negotiable promissory notes
issued by businesses.
COMPREHENSNE ANNUAL
FINANCIAL REPORT (CAFR): The
official annual report for the City of San
Bernardino. It includes five combined
statements for each individual fund and
account group prepared in conformity
with GMP. It also includes supporting
schedules necessary to demonstrate
compliance with finance-related legal
and contractual provisions, extensive
introductory material, and a detailed
Statistical Section.
COUPON: (a) The annual rate of
interest that a bond's issuer promises to
pay the bondholder on the bond's face
value. (b) A certificate attached to a
bond evidencing interest due on a
payment date.
DEALER: A dealer, as opposed to a
broker, acts as a principal in all
transactions, buying and selling for his
own account.
DELNERY VERSUS PAYMENT: There
are two methods of delivery of
securities: delivery versus payment and
delivery versus receipt. Delivery versus
payment is delivery of securities with an
exchange of money for th' securities.
Delivery versus receipt is delivery of
securities with an exchange of a signed
receipt for the securities.
DISCOUNT: The difference between the
cost price of a security and its maturity
when quoted at lower than face value.
A security selling below original offering
price shortly after sale also is
considered to be at a discount.
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-- 2004-228
GLOSSARY
DISCOUNT SECURITIES: Non-interest
bearing money market instruments that
are issued ata discount and redeemed
at maturity for full face value, e.g., U.S.
Treasury Bills.
DIVERSIFICATION: Dividing
investment funds among a variety of
Securities
FEDERAL CREDIT AGENCIES:
Agencies of the Federal government set
up to supply credit to various classes of
institutions and individuals, e.g., S &
L's, small business firms, students,
farmers, farm cooperatives, and
exporters.
FEDERAL DEPOSIT INSURANCE
CORPORATION (FDIC): a federal
agency that insures bank deposits,
currently up to $100,000 per deposit.
FEDERAL FUNDS RATE: The rate of
interest at which Fed funds are traded.
This rate is currently pegged by the
Federal Reserve through open-market
operations.
FEDERAL HOME LOAN BANKS
(FHLB): Government sponsored
wholesale banks (currently 12 regional
banks) which lend funds and provide
correspondent banking services to
mem ber commercial banks, thrift
institutions, credit unions and
insurance companies. The mission of
the FHLB is to liquefy the housing
related assets of its members who must
purchase stock in their district
FEDERAL NATIONAL MORTGAGE
ASSOCIATION (FNMA): FNMA, like
GNMA was chartered under the Federal
National Mortgage Association Act in
1938. FNMA is a federal corporation
working under the auspices of the
Department of Housing and Urban
Development (HUD). It is the largest
single provider of residential mortgage
funds in the United States. Fannie
Mae, as the corporation is called, is a
private stockholder-owned corporation.
The corporation's purchases include a
variety of adjustable mortgages and
second loans, in addition to fIXed-rate
mortgages. FNMA securities are also
highly liquid and are widely accepted.
FNMA assumes and guarantees that all
security holders will receive timely
payment of principal and interest.
FEDERAL OPEN MARKET
COMMITTEE (FOMCl: Consists of
seven members of the Federal Reserve
Board and five of the twelve Federal
Reserve Bank Presidents. The President
of the New York Federal Reserve Bank is
a permanent member, while the other
Presidents serve on a rotating basis.
The Committee periodically meets to set
Federal Reserve guidelines regarding
purchases and sales of Government
Securities in the open market as a
means of influencing the volume of
bank credit and money.
FEDERAL RESERVE SYSTEM: The
central bank of the United States
created by Congress and consisting of a
seven member Board of Governors in
Washington, D.C., 12 regional banks
and about 5,700 commercial banks that
are members of the system.
GOVERNMENT NATIONAL
MORTGAGE ASSOCIATION (GNMA or
Ginnie Mae): Securities influencing the
volume of bank credit guaranteed by
GNMA and issued by mortgage bankers,
commercial banks, savings and loan
associations, and other institutions.
Security holder is protected by full faith
and credit of the U. S. Government.
Ginnie Mae securities are backed by the
FHA, VA, or FmHA mortgages.
LIQUIDITY: A liquid asset is one that
can be converted easily and rapidly into
cash without a substantial loss of value.
In the money market, a security is said
to be liquid if the spread between bid
and asked prices is narrow and
reasonable size can be done at those
quotes.
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GLOSSARY
2004-228
LOCAL GOVERNMENT INVESTMENT
POOL (LGIP): The aggregate of
all funds from political subdivisions
that are placed in the custody of the
State Treasurer for investment and
reinvestment<
MARKET VALUE: The price at which a
security is trading and could
presumably be purchased or sold.
MATURITY: The date upon which the
principal or stated value of an
investment becomes due and payable.
MONEY MARKET:
which short-term
(bills, commercial
acceptances, etc<)
traded.
The market in
debt instruments
paper, bankers'
are issued and
OFFER: The price asked by a seller of
securities. (When you are buying
securities, you ask for an offer).
OPEN MARKET OPERATIONS;
Purchases and sales of government and
certain other securities in the open
market by the New York Federal Reserve
Bank as directed by the FOMC in order
to influence the volume of money and
credit in the economy. Purchases inject
reserves into the bank system and
stimulate growth of money and credit;
sales have the opposite effect. Open
market operations are the Federal
Reserve's most important and most
flexible monetary policy tool.
PORTFOLIO: Collection of securities
held by an investor.
PRIMARY DEALER; A group of
government seCUrIties dealers who
submit daily reports of market activity
and positions and monthly financial
statements to the Federal Reserve Bank
of New York and are subject to its
informal oversight. Primary dealers
include Securities and Exchange
Commission (SEC), registered securities
broker-dealers, banks, and a few
unregulated firms.
PRUDENT PERSON RULE: An
investment standard. In some states
the law requires that a fiduciary, such
as a trustee, may invest money only in a
list of securities selected by the custody
state--he so-called legal list. In other
states the trustee may invest in a
security if it is one which would be
bought by a prudent person of
discretion and intelligence who is
seeking a reasonable income and
preservation of capital.
QUALIFIED PUBLIC DEPOSITORIES:
A financial institution which does not
claim exemption from the payment of
any sales or compensating use or ad
valorem taxes under the laws of this
state, which as segregated for the
benefit of the commission eligible
collateral having a value of not less than
its maximum liability and which has
been approved by the Public Deposit
Protection Commission to hold public
deposits.
RATE OF RETURN: 1) The yield
obtainable on a security based on its
purchase price or its current market
price. This may be the amortized yield
to maturity on a bond or the current
income return. 2) Income earned on an
investment, expressed as a percentage
of the cost of the investment.
SAFEKEEPING: A service to customers
rendered by banks for a fee whereby
securities and valuables of all types and
descriptions are held in the bank's
vaults for protection.
SECONDARY MARKET; A - market
made for the purchase and sale of
outstanding issues following the initial
distribution.
SECURITIES III EXCHANGE
COMMISSION: Agency created by
Congress to protect investors in
securities transactions by administering
securities legislation.
STRUCTURED NOTES: Notes issued
by government sponsored enterprises,
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GLOSSARY
2004-228
(FHLB, FNMA, SLMA, etc,) and
Corporations which have imbedded
options (e,g. call features, step-up
coupons, floating rate coupons,
derivative-based returns) into their debt
structure. Their market performance is
impacted by the fluctuation of interest
rates, the volatility of the imbedded
options and shifts in the shape of the
Xield curve. .
TREASURY BILLS: a non-interest
bearing discount security issued by the
U.S, Treasury to finance the National
debt. Most bills are issued to mature in
three months, six months, or one year.
TREASURY BONDS: Long-term
coupon-bearing U.S. Treasury securities
issued as direct obligations of the U.S.
Government and having initial
maturities from two to ten years.
TREASURY NOTES: Medium-term
coupon-bearing U.S. Treasury securities
issued as direct obligations of the U.S.
Government and having initial
maturities from two to ten years.
UNIFORM NET CAPITAL RULE:
Securities & Exchange Commission
requirement that member firms as well
as nonmember broker-dealers in
securities maintain a maximum ratio of
indebtedness to liquid capital of 15 to 1;
also called net capital rule and net
capital ratio. Indebtedness covers all
money owed to a firm including margin
loans and commitments to purchase
securities, one reason new public issues
are spread among members of
underwriting syndicates. Liquid capital
includes cash and assets easily
converted into cash,
YIELD: The rate of annual income
return on an investment, expressed as a
percentage. INCOME YIELD is
obtained by dividing the current dollar
income by the current market price for
the security. NET YIELD or YIELD TO
MATURITY is the current income yield
minus any premium above par or plus
any discount from par in purchase
price. with the adjustment spread over
the period from the date of purchase to
the date of maturity of the bond.
4
. -"""'t
** FOR OFFICE USE ONLY - NOT A PUBLIC DOCUMENT **
RESOLUTION AGENDA ITEM TRACKING FORM
Meeting Date (Date Adopted): b,. )A9' oS Item # II Resolution # 301) r- -l S" 10
Vote: Ayes '7 Nays Abstain Absent
Change to motion to amend original documents 0 Companion Resolutions
NulVVoid After: days /
Resolution # On Attachments: 0 Note on Resolution of attachment stored separately: 0
PUBLISH 0
POST 0
RECORD W/COUNTY 0
By:
~
Date Sent to Mayor:
Date of Mayor's Signature:
Date of Clerk/CDC Signature:
Reso. Log Updated: 0
Seal Impressed: 0
Date Memo/Letter Sent for Signature:
101 Reminder Letter Sent:
Date Returned:
2nd Reminder Letter Sent:
Not Returned: 0
I
~~:1
Request for Council Action & Staff Report Attached: Yes No By_
Updated Prior Resolutions (Other Than Below): Yes No By_
Updated CITY Personnel Folders (6413, 6429, 6433,10584,10585,12634): Yes No By_
'i';.',"
Updated CDC Personnel Folders (55~1): Yes No By_
Updated Traffic Folders (3985, 8234, 655, 92-389): Yes No By_
"1 Copies Distributed to:
;..:~. Animal Control y EDA 0 Information Services 0
I
0.< ~ City Administrator Facilities ~ Parks & Recreation 0
~~
City Attorney Finance Police Department 0
Code Compliance 0 Fire Department 0 Public Services 0
Development Services 0 Human Resources 0 Water Department 0
Others:
Notes:
Ready to File:
Revised 12/18/03