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January 2026 ...................... . .. . . . ................ ........... . . ........ ... I .� An annual review of the financial condition and registrations of qualified bidders will be conducted by the Investment Officer. A current audited financial statement and certification of having received and reviewed the City's investment policy is required to be on file for each financial institution and broker/dealer in which the City of Paris invests. The City of Paris is empowered by statue to invest in the Types of securities autffor_fz_e_d_5_yUhapt 2256 of the Government Code. Even if allowed by the Public Funds Investment Act, the City Vwis will not invest in securities known as " collateralized debt obligations" which are pools debt that include sub -prime mortgages. Any investment currently held that does not meet t guidelines of this policy, but was authorized at the time of purchase, shall be exempted from t requirements of this policy and investment officers shall not be required to liquidate t investment, At maturity or liquidation, such monies shall be reinvested only as provided by th policy. All prudent measures will be taken to liquidate an investment that is downgraded to le than the required minimum rating as per Chapter 2256. 9.0 COLLATERALIZATION Consistent with the requirements of Chapter 2257 of the Texas Government Code (the "Publ Funds Collateral Act"), it is the policy of the City to require full collateralization of all Ci investments and funds on deposit with a depository bank, other than investments which obligations of the U.S. government and its agencies and instrumentalities. In order to anticip market changes and provide a level of security for all funds, the collateralization. level will be least 102% of market value of orincipal and accrued interest on the deposits or investments less] r"11-411111 nntg 1 17M 11=,�WX0416�4 X =--- - . , .0.0 1 4 - provisions ot this proposal shall be continuously secureu, in accoraunce Tial LIX ILIVT-N�401 L11C 3L' of Texas, Securities pledged as collateral shall be held by an independent third party. h d arty fil 7 rids n depos tir p In addition, the Depository Bank agrees to meet the same security pledge for all funds on depo by the Paris Economic Development Corporation (PEDC). Evidence of pledged securities to t 1 City and PEDC must be supplied to the City and retained until new evidence of pledged securniti supersedes the previous evidence of pledged securities. The right of collateral substitution granted. 171]111Ra 114 N X 9 101W.111211 -ye -M&M All security transactions, including collateral for repurchase agreements, entered into by the City of Paris, shall be conducted on a delivery -versus -payment (DVP) basis. Securities will be held 'tFy o*5* 10.1 COMPETITIVE BIDS: It is the policy of the City to obtain at least three bids for security transactions except for: (a) transactions with money market mutual funds and local government investment pools; (b) treasury and agency securities purchased at issue through an approved R