3.20.120 Safekeeping and custody.
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All security transactions, including collateral for repurchase agreements, entered into by the City of Anacortes shall be conducted on a delivery-versus-payment (DVP) basis. Securities will be held in safekeeping by a third party custodian designated by the treasurer and evidenced by safekeeping receipts. (Ord. 2937 § 1, 2014)