HomeMy Public PortalAboutR2325 R E S O L U T I O N NO. 2325 WHEREAS, under provisions of Ordinance No. 7879, Section 1 adopted on
August 9, 1989 the list of Approved Depositary Banks may be modified from time to
time by resolution of the Board of Trustees of the District, and
WHEREAS, under provisions of Ordinance No. 7879, Section 2 adopted on
August 9, 1989 the list of Approved Securities Dealers may be modified from time to
time by resolution of the Board of Trustees of the District, and
WHEREAS, under provisions of Ordinance No. 7879, Section Four,
adopted on August 9, 1989, the list of Approved Collateral may be modified from time
to time by resolution of the Board of Trustees of the District.
NOW, THEREFORE, BE IT RESOLVED that the list of Approved
Depositary Banks, attached hereto as Exhibit A, is hereby approved; provided that
such list may be modified from time to time by resolution of the Board of Trustees of
the District.
BE IT FURTHER RESOLVED that the list of Approved Securities
Dealers, attached hereto as Exhibit B, is hereby approved; provided that such list may
be modified from time to time by resolution of the Board of Trustees of the District.
BE IT FURTHER RESOLVED that the list of Approved Collateral,
attached hereto as Exhibit C, is hereby approved; provided that such list may be
modified from time to time by resolution of the Board of Trustees of the District.
The foregoing Resolution was adopted June 10, 1999.
EXHIBIT A
LIST OF APPROVED DEPOSITARY BANKS
Allegiant Bank
Bankers Trust Company*
Bremen Bank & Trust Company
Carrollton Bank
Cass Bank & Trust Company
Centennial Bank
Central West End Bank
Citizens National Bank
Colonial Bank
Commerce Bank of St. Louis
Commerce Trust
Commercial Bank
Concord Bank
Enterprise Bank
Equality Savings & Loan Association
First Bank
First National Bank of St. Louis
Founders Bank
Frontenac Bank
Gateway National Bank of St. Louis
Guardian Savings
Heartland Savings Bank
Jefferson Bank & Trust Company
Jefferson Heritage
Lemay Bank & Trust Company
Lindell Bank & Trust Company
Meramec Valley Bank
Mercantile Bank of St. Louis
Mercantile Trust
Missouri State Bank
Montgomery 1st National Bank
NationsBank, N.A.
Normandy Bank
Pioneer Bank & Trust Company
Pulaski Bank A Savings Bank
Reliance Bank
Royal Banks
Saint John's Bank & Trust Company
South Side National Bank in St. Louis
Southern Commercial Bank
Southwest Bank
State Street Bank & Trust Co. of Mo., N.A.*
The Bank of New York*
Truman Bank
Union Planters Bank of Missouri
United Missouri Bank of St. Louis N.A.
United Missouri Trust
*Paying Agent Institutions Only
EXHIBIT B
LIST OF APPROVED SECURITIES DEALERS
Primary Government Securities Dealers*
ABN AMRO Incorporated
Aubrey G. Lanston & Co., Inc.
Banc of America Securities LLC
Banc One Capital Markets, Inc.
Bear, Stearns & Co., Inc.
BT Alex, Brown Incorporated
Barclays Capital Inc.
Chase Securities Inc.
CIBC Oppenheimer Corp.
Credit Suisse First Boston Corporation
Daiwa Securities America Inc.
Deutsche Bank Securities Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Dresdner Kleinwort Benson North America LLC.
Fuji Securities Inc.
Goldman, Sachs & Co.
Greenwich Capital Markets, Inc.
HSBC Securities, Inc.
J.P. Morgan Securities, Inc.
Lehman Brothers Inc.
Merrill Lynch Government Securities Inc.
Morgan Stanley & Co. Incorporated
Nesbitt Burns Securities Inc.
Nomura Securities International, Inc.
Paine Webber Incorporated
Paribas Corporation
Prudential Securities Incorporated
Salomon Smith Barney Inc.
Warburg Dillon Read LLC.
Zions First National Bank
*Such Primary Government Securities Dealers shall be those certified as such,
from time to time, by the New York Federal Reserve Bank.
Securities Dealers in the District
First St. Louis Securities Inc.
A. G. Edwards & Sons, Inc.
Stifel Nicolaus & Co., Inc.
District Authorized Depositary Banks
EXHIBIT C
SECURITIES ACCEPTABLE AS COLLATERAL
TO SECURE DEPOSITS
The securities described below are hereby designated as acceptable collateral for District funds
on deposit, as required by Section 30.270 RSMo (as amended). The Secretary-Treasurer
reserves the right to refuse to accept as collateral any security or securities on this list, or to
request the submission of an alternate acceptable security or securities, if, in the sole
discretion of the Secretary-Treasurer, the Secretary-Treasurer determines that such action will
provide greater security for the deposit of District funds.
The securities described below are designated as acceptable collateral for the deposit of
District funds. The listing is not intended to serve as, and should not be considered as a
listing of legally authorized investment instruments.
1. Marketable Treasury securities of the United States.
2. The following debt securities of the State of Missouri and its state authorities:
a. General obligation debt securities issued by the State of Missouri.
b. Revenue bonds issued by the Missouri Board of Public Buildings or
Department of Natural Resources.
c. Revenue bonds of the Missouri Housing Development Commission, Missouri
Health and Education Facilities Authority, Missouri Higher Education Loan
Authority, Missouri Environmental Improvement and Energy Resources Authority,
Missouri Agricultural and Small Business Development Authority, Missouri
Industrial Development Board, or State-owned educational institutions, so long
as any of the above are rated "A" or better by Moody's or Standard & Poors
(M1 on notes, or are secured by a federal agency guarantee (directly or
through guaranteed loans).
3. General obligation bonds of any city in this state having a population of not less than
two thousand.
4. General obligation bonds of any county of this state.
5. General obligation bonds approved and registered, of any school district situated in this
state.
6. General obligation bonds, approved and registered, or any special road district in this
state.
7. General obligation state bonds of any of the 50 states.
8. Debt securities of the Federal Farm Credit System.
9. Debt securities of the Federal Home Loan Banks (FHLB) (excluding Zeros).
10. Other debt securities guaranteed by the United States or its agencies or
instrumentality's, as follows:
a. Debt securities of the Federal National Mortgage Association (FNMA).
b. Debt securities of the Student Loan Marketing Association (SLMA).
c. Debt securities of the Government National Mortgage Association (GNMA).
d. Debt securities of the Federal Home Loan Mortgage Corporation (FHLMC)
(excluding FHLMC Mortgage Cash Flow Obligations).
e. Guaranteed Loan Pool Certificates of the Small Business Administration (SBA).
f. Federal Home Administration insured notes (CBOs).
g. Public housing notes and bonds ("project notes and bonds") issued by public
housing agencies, guaranteed as to the payment of principal and interest by the
government of the United States or any agency or in instrumentality thereof.
h. Debt securities of the Resolution Funding Corporation (REFCORP).
All pledges of pass-through mortgage-backed securities will be valued at 90% of
market value. SBA pool certificates and collateralized mortgage obligations will be
valued at 75% of market value. The only Collateralized Mortgage Obligations (CMO)
the Secretary Treasurer's Office will accept are Planned Amortization Class (PAC)
Collateralized Mortgage Obligations that have a weighted average life not to exceed
three years and pass the FFIEC High Risk Stress Test. No Strips or Zeros are
acceptable.
11. Bonds of any political subdivision established under the provision of Section 30, Article
VI, of the Constitution of Missouri.
12. Tax anticipation notes issued by any county of class one in Missouri.
13. Surety bond issued by an insurance company licensed under the laws of the State of
Missouri whose claims-paying ability is rated in the highest category by Duff & Phelps,
A.M. Best, Standard & Poors, or Moody's. The face amount of such surety bond shall
be at least equal to the portion of the deposit to be secured by the surety bond.
14. Irrevocable standby Letter of Credit issued by a Federal Home Loan Bank possessing
the highest rating issued by at least one nationally recognized statistical rating agency.
Unless noted otherwise, the market value of collateral must be 100% or greater of the amount
of District time deposits (including interest to maturity) plus demand deposits with the
depository, less the amount, if any, which is insured by the Federal Deposit Insurance
Corporation. All securities pledged as collateral by the depository will be held by the
Secretary-Treasurer, in a segregated account. All collateral pledged must be delivered in
bearer form, book-entry form, or in the case of fully registered certificates, placed into the
nominee name of the custodian.