HomeMy Public PortalAboutR2505 R E S O L U T I O N NO. 2505 WHEREAS, under provisions of Ordinance No. 10908, Section Two
adopted on February 8, 2001, 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. 10908, Section Three
adopted on February 8, 2001 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. 10908, Section Five,
adopted on February 8, 2001, 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.
EXHIBIT A
LIST OF APPROVED DEPOSITARY BANKS
Allegiant Bank
Bank of America
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
Eagle Bank & Trust Company of Missouri
Enterprise Bank
First Bank
First National Bank of St. Louis
First Service Bank
Founders Bank
Frontenac Bank
Gateway National Bank of St. Louis
Guardian Savings
Heartland Savings Bank
Jefferson Bank & Trust Company
Lindell Bank & Trust Company
Meramec Valley Bank
Midwest BankCentre
Missouri State Bank
Montgomery 1st National Bank
Normandy Bank
Northern Trust Bank
Pioneer Bank & Trust Company
Pulaski Bank A Savings Bank
Reliance Bank
Royal Banks
Saint John's Bank & Trust Company
St. Louis Bank for Business
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
U.S. Bancorp
*Paying Agent Institutions Only
EXHIBIT B
LIST OF APPROVED SECURITIES DEALERS
Primary Government Securities Dealers*
ABN AMRO Incorporated
BNP Paribas Securities Corp.
Banc of America Securities LLC
Banc One Capital Markets, Inc.
Barclays Capital Inc.
Bear, Stearns & Co., Inc.
CIBC World Markets Corp.
Credit Suisse First Boston Corporation
Daiwa Securities America Inc.
Deutsche Bank Securities Inc.
Dresdner Kleinwort Benson North America LLC.
Goldman, Sachs & Co.
Greenwich Capital Markets, Inc.
HSBC Securities (USA) Inc.
J.P. Morgan Securities, Inc.
Lehman Brothers Inc.
Merrill Lynch Government Securities Inc.
Mizuho Securities USA Inc.
Morgan Stanley & Co. Incorporated
Nomura Securities International, Inc.
Salomon Smith Barney Inc.
UBS Warburg, LLC.
*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.
Edward D. Jones
First Union Securities
Stern Brothers & Co.
Stifel Nicolaus & Co., Inc.
Wells Fargo Institutional Brokerage
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. The foregoing Resolution was adopted June 12, 2003.