HomeMy Public PortalAboutR2562 R E S O L U T I O N NO. 2562 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.
The foregoing Resolution was adopted June 10, 2004.
EXHIBIT A
LIST OF APPROVED DEPOSITARY BANKS
Allegiant Bank
Bank of America
BNY of Missouri
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
The Bank of New York*
Truman Bank
Union Planters Bank of Missouri
UMB Bank*
UMB 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.
Citigroup Global Markets Inc.
Countrywide Securities Corporation
Credit Suisse First Boston LLC
Daiwa Securities America Inc.
Deutsche Bank Securities Inc.
Dresdner Kleinwort Wasserstein Securities 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.
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
RBC Dain Ranscher Corp.
Siebert Branford Shanks & Co., LLC
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.
Security For Safekeeping of State Funds
30.270. 1. For the security of the moneys deposited by the state treasurer pursuant to the
provisions of this chapter, the state treasurer shall, from time to time, submit a list of acceptable
securities to be approved by the governor and state auditor if satisfactory to them, and the state
treasurer shall require of the selected and approved banks or financial institutions as security for
the safekeeping and payment of deposits, securities from the list provided for in this section,
which list may include only securities of the following kind and character:
1) Bonds or other obligations of the United States;
2) Bonds or other obligations of the state of Missouri including revenue bonds issued by
state agencies or by state authorities created by legislative enactment;
3) Bonds of any city in this state having a population of not less than two thousand;
4) Bonds of any county in this state;
5) Approved registered bonds of any school district situated in this state;
6) Approved registered bonds of any special road district in this state;
7) State bonds of any state;
8) Notes, bonds, debentures or other similar obligations issued by the federal land banks,
federal intermediate credit banks, or banks for cooperatives or any other obligations
issued pursuant to the provisions of an act of the Congress of the United States known
as the Farm Credit Act of 1971, and acts amendatory thereto;
9) Bonds of the federal home loan banks;
10) Any bonds or other obligations guaranteed as to payment of principal and interest by
the government of the United States or any agency or instrumentality thereof;
11) Bonds of any political subdivision established pursuant to the provisions of section
30, article VI, of the Constitution of Missouri;
12) Tax anticipation notes issued by any county of the first classification;
13) A surety bond issued by an insurance company licensed pursuant to the laws of the
state of Missouri whose claims-paying ability is rated in the highest category by at
least one nationally recognized statistical rating agency. 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) An 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;
15) Out-of-state municipal bonds, provided such bonds are rated in the highest category
by at least one nationally recognized statistical rating agency.
1. Securities deposited shall be in an amount valued at market equal at
least to one hundred percent of the aggregate amount on time deposit as
well as on demand deposit with the particular financial institution less
the amount, if any, which is insured either by the Federal Deposit
Insurance Corporation or by the Federal Savings and Loan Insurance
Corporation or by the National Credit Unions Share Insurance Fund.
2. The securities or book entry receipts shall be delivered to the state
treasurer and receipted for by the state treasurer and retained by the
treasurer or by financial institutions that the governor, state auditor
and treasurer agree upon. The state treasurer shall from time to time
inspect the securities and book entry receipts and see that they are
actually held by the state treasury or by the financial institutions
selected as the state depositaries. The governor and the state auditor
may inspect or request an accounting of the securities or book entry
receipts, and if in any case, or at any time, the securities are not
satisfactory security for deposits made as provided by law, they may
require additional security to be given that is satisfactory to them.
3. Any securities deposited pursuant to this section may from time to time
be withdrawn and other securities described in the list provided for in
subsection 1 of this section may be substituted in lieu of the withdrawn
securities with the consent of the treasurer; but a sufficient amount of
securities to secure the deposits shall always be held by the treasury or
in the selected depositaries.
4. If a financial institution of deposit fails to pay a deposit, or any part
thereof, pursuant to the terms of its contract with the state treasurer, the
state treasurer shall forthwith convert the securities into money and
disburse the same according to law.
5. Any financial institution making deposits of bonds with the state
treasurer pursuant to the provisions of this chapter may cause the
bonds to be endorsed or stamped as it deems proper, so as to show that
they are deposited as collateral and are not transferable except upon
the conditions of this chapter or upon the release by the state treasurer
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.