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R2562 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.