The treasurer will maintain a list of financial institutions authorized to provide investment services. In addition, a list will also be maintained of approved security broker/dealers selected by credit worthiness. These may include “primary” dealers or regional dealers that qualify under securities and exchange commission rule 15C3-1 (uniform net capital rule). No public deposits shall be made except in qualified public depositaries as provided in RCW Chapter 39.58.

All brokers/dealers and financial institutions who desire to do business with the city must supply the treasurer with the following: current annual audited financial statement, proof of National Association of Securities Dealers Certification, proof of registration and broker registration in the State of Washington, certification of having read the city’s investment policy and receipt of the city’s trading authorization. (Ord. 2937 § 1, 2014)