Deposits and Investments. The Land Bank shall deposit and invest funds of the Land Bank, not otherwise employed in carrying out the purposes of the Land Bank, in accordance with an investment policy established by the Region 1 Planning Council, as fiscal agent.
Deposits and Investments. The funds of the Company shall be deposited in the name of the Company in accounts designated by the Board of Managers in banks or banking institutions to be selected by the Board of Managers or invested in such manner as shall be authorized by the Board of Managers. The Board of Managers shall prescribe such procedures as its shall deem necessary with respect to making such investments.
Deposits and Investments. The Authority shall deposit and invest money of the Authority, not otherwise employed in carrying out the purposes of the Authority, in accordance with an investment policy established by the Executive Committee consistent with laws and regulations regarding investment of public funds.
Deposits and Investments. The State of Utah Money Management Council has the responsibility to advise the State Treasurer about investment policies, promote measures and rules that will assist in strengthening the banking and credit structure of the state and review the rules adopted under the authority of the State of Utah Money Management Act that relate to the deposit and investment of public funds. The Gas Departments follow the requirements of the Utah Money Management Act (Utah code, Section 51, chapter 7) in handling its depository and investment transactions. The Act requires the depositing of the Gas Departments’ funds in qualified depositories. The Act defines a qualified depository as any financial institution whose deposits are insured by an agency of the Federal Government and which has been certified by the State Commissioner of Financial Institutions as meeting the requirements of the Act and adhering to the rules of the Utah Money Management Council. The Gas Departments participate in Hildale City’s central treasury. The City’s central treasury consists of the following at June 30, 2017: State Treasurer's Investment Pool $ 1,976,974 U.S. Bank 54,491 Xxxxx Fargo Bank 304,618 Less amounts to other HC and CC Joint Utilities/Hildale City (1,839,573) $ 496,510 Equity in central treasury $ 496,510 HILDALE/COLORADO CITY GAS DEPARTMENTS Notes to the Financial Statements June 30, 2017 NOTE 2. Deposits and Investments, Continued Deposits Custodial Credit Risk For deposits this is the risk that in the event of a bank failure, the government’s deposit may not be returned to it. Hildale City does not have a formal policy for custodial credit risk. As of June 30, 2017, $46,769 of the Hildale City’s central treasury’s bank balance of $379,800 was exposed to custodial credit risk because it was uninsured and uncollateralized.
Deposits and Investments. The funds of the Partnership shall be deposited in the name of the Partnership in accounts designated by the Management Committee in banks or banking institutions to be selected by the Management Committed or invested in such manner as shall be authorized by the Management Committee. The Management Committee shall prescribe such procedures as its shall deem necessary with respect to making such investments.
Deposits and Investments. The Corporation shall deposit and invest funds of the Corporation not otherwise employed in carrying out the purposes of the Corporation in accordance with an investment policy established by the Executive Committee that is consistent with applicable law.
Deposits and Investments. Deposits made pursuant to this Escrow Trust -------------------------- Agreement may be invested on behalf of any party or parties hereto; provided, that any direction to Escrowee for such investment shall be expressed in writing and contain the consent of all other parties to this Escrow Trust Agreement, and also provided that Escrowee is in receipt of the taxpayer's identification number and investment forms as required. Escrowee will, upon request, furnish information concerning its procedures and fee schedules for investment. Except as to deposits of funds for which Escrowee has received express written direction concerning investment or other handling, the parties hereto agree that Escrowee shall be under no duty to invest or reinvest any deposits at any time held by it hereunder; and, further, that Escrowee may commingle such deposits with other deposits or with its own funds in the manner provided for the administration of funds under Section 2-8 of the Corporate Fiduciary Act (111. Rev. Stat. ch. 17, par. 1551 - 1) and may use any part or all such funds for its own benefit without obligation to any party for interest or earnings derived thereby, if any. Provided, however, nothing herein shall diminish Escrowee's obligation to apply the full amount of the deposits in accordance with the terms of this Escrow Trust Agreement. In the event Escrowee is requested to invest deposits hereunder, Escrowee shall not be held responsible for any loss of principal or interest that may be incurred as a result of making the investments or redeeming said investment for the purpose of this Escrow Trust Agreement. By: By: /s/ Xxxxx X. Xxxxxxx Xxx X. Xxxxxxx Xxxxx X. Xxxxxxx Attorney for Seller Attorney for Purchaser
Deposits and Investments. Deposits made pursuant to this Escrow Trust ------------------------ Agreement may be invested on behalf of any party or parties hereto; provided, that any direction to Escrowee for such investment shall be expressed in writing and contain the consent of all other parties to this Escrow Trust Agreement, and also provided that Escrowee is in receipt of the taxpayer's identification number and investment forms as required. Escrowee will, upon request, furnish information concerning its procedures and fee schedules for investment.
Deposits and Investments. Investments, with a carrying value of $1,332,970 consist of investment in the Georgia Fund 1, a local government investment pool administered by the State of Georgia Office of the State Treasurer. The pool's primary objectives are safety of capital, investment income, liquidity and diversification while maintaining principal ($1 per share value). The asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and determines participants’ shares sold and redeemed based on $1 per share. The pool also adjusts the value of its investments to fair market value as of year-end and the Fund’s investment in the Georgia Fund 1 is reported at fair value. As the investments represent ownership of a portion of a large pool of investments, these amounts are not categorizable for custodial risk disclosure. Credit risk. State statutes authorize the Fund to invest in obligations of the State of Georgia or other States; obligations issued by the U.S. Government; obligations fully insured or guaranteed by the U.S. Government or by a government agency of the United States; obligations of any corporation of the U.S. Government; prime banker’s acceptances; the local government investment pool established by state law; repurchase agreements; and obligations of other political subdivisions of the State of Georgia. As of June 30, 2016, the Fund’s investment in Georgia Fund 1 was rated AAAf by Standard & Poor’s and the Fund’s investment in the Xxxxxxx Xxxxx Treasury Obligation Mutual Fund was rated AAAm. At June 30, 2016, the Fund had the following investments: Maturities Investment Duration - WAM Fair Value Xxxxxxx Sachs Treasury Obligation - Mutual Fund 44 days $ 11,027,141 Georgia Fund 1 42 days 1,332,970 Total $ 12,360,111
Deposits and Investments. The County Authority shall deposit and invest funds of the County Authority, not otherwise employed in carrying out the purposes of the County Authority, in accordance with an investment policy established by the County Authority Board consistent with laws and regulations regarding investment of public funds.
