Specifications include, but are not limited to: To provide investment advice and recommendations to the City, regarding the investment and reinvestment of City Funds; such recommendations and advice will include the management of the City’s portfolio utilizing eligible securities, as defined under Chapter 221 and the adopted investment policy. (See Attachment B for details of the City’s investments). On a discretionary basis, execute investment transactions on a “best price and execution basis,” and to trade in any securities as defined under Chapter 221 of the Revenue and Finance Code and the City’s approved investment policy, using such funds as designated by the Finance Director. Issue transaction advice to the Finance Director, evidencing the purchase and sale of eligible securities, and provide same transaction advice to the City’s custodian bank, which will include details of the transaction and serve as an authorization to such custodian bank to settle investment transaction on a delivery vs. payment basis. Coordinate the settlement process regarding the delivery and receipt of securities with the City’s custodian bank, and account for the receipt of income and maturities and all other matters involving the reconciliation of cash and investment transactions. Execute investment transactions through only eligible broker/dealers who have signed the approved investment policy of the City. Monitor the credit worthiness of financial institutions and investments in the portfolio. Provide in an electronic format, monthly and quarterly reports describing the activity of the City’s portfolio, within two weeks following each month and quarter end. Such reports will contain, at a minimum, the following information: An inventory of all obligations which will describe all securities, including type, cost, par value, maturity dates, and transaction settlement dates. Such reports will detail all transactions during the period, including the purchase or sale of securities, the average yield of the portfolio, and any realized income for the period. The reports will include various benchmarks such as the average yield of the Three-month Constant Maturity Treasury as calculated by the Federal Reserve Bank of New York, the monthly average yield of the State Treasurer’s Investment Pool (STAROHIO), the Merrill Lynch One-Three Year U.S. Government Index, or any other mutually agreed upon index to determine the relative performance of the portfolio...
