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shall address the following general topics: A description of eligible investment securities, and a written statement of investment policy and objectives. A description of interest calculations and how it is distributed, and how gains and losses are treated. iii. A description of how the securities are safeguarded (including the settlement processes), and how often the securities are priced and the program audited. iv. A description of who may invest in the program and how often, including size and frequency of minimum and maximum deposits, and how many withdrawal transactions are allowed (daily, monthly, quarter, annually, etc.). v. A description of what type of notice is required by the program from the participant to make minimum and maximum deposit and withdrawal transactions. vi. A description of how and who in the governing body of the program is authorized to make program changes, including frequency. The description must include how program participants are informed of program changes and impacts. vii. A schedule for receiving statements and portfolio listings. viii. A description of how reserves, retained earnings, etc. are utilized by the pool. ix. A model of the fee schedule, and when and how it is assessed. x. A description of eligibility and/or acceptance of bond proceeds. A The pool must contain only the types of investment allowed by California Code. Upon approval for participation in one or more additional investment pools the FMSA investment staff shall thereafter on an annual basis investigate and reconfirm the pool's compliance with items listed above and shall monitor the pool's performance reports. 11.0 COLLATERALIZATION/SECURITY FOR DEPOSIT OF PUBLIC FUNDS Money must be deposited in state or national banks, state or federal savings associations or state or federal credit unions in the State of California. It may be in inactive deposits, active deposits or interest -bearing active deposits. The deposits cannot exceed the amount of the bank's or savings and loan's paid up capital and surplus. The bank or savings and loan must secure the active and inactive deposits with eligible securities having a market value of one -hundred, ten percent (110%) of the total amount of the deposits. State law also allows as an eligible security, first trust deeds having a value of one -hundred, fifty percent (150%) of the total amount of the deposits. A third class of City of Santa - Annual Page 16 July 1.2023 - Statement of Investment Policy June 30, 2024 City Council 44 — 22 6/6/2023