Selecting a Depository
The Superintendent or designee shall have the authority to determine the method of selecting a depository in accordance with BDAE(LEGAL).
Eligible securities for collateralization of deposits are those defined as "eligible securities" by the Public Funds Collateral Act.
Monitoring Collateral Adequacy
The District shall require monthly reports with market values of pledged securities from all financial institutions with which the District has collateralized deposits. The investment officers shall monitor adequacy of collateralization levels to verify market values and total collateral positions.
Release of Pledged Securities
The investment officer or designee shall approve in writing the release or substitution of any securities pledged to the District that are being held by any organization.