Text · page 7 of 18
∗ Obligations guaranteed by agencies of the United States of America where the payment of principal and interest are guaranteed by the United States of America ∗ Obligations of the State of New York ∗ Obligations issued pursuant to LFL § 24.00 or 25.00 (with approval of the State Comptroller) by any municipality, school district or district corporation other than the Town of Collins ∗ Obligations of public authorities, public housing authorities, urban renewal agencies and industrial development agencies where the general State statutes governing such entities or whose specific enabling legislation authorizes such investments ∗ Certificates of Participation (COPS) issued pursuant to GML § 6-c, 6-d, 6-e, 6-g, 6-h, 6-j, 6-k, 6-l, 6-m, or 6-n. All investment obligations shall be payable or redeemable at the option of the Town of Collins within such times as the proceeds will be needed to meet expenditures for purposes for which the moneys were provided and, in the case of obligations purchased with the proceeds of bonds or notes, shall be payable or redeemable at the option of the Town of Collins within two years of the date of purchase. XI. AUTHORIZED FINANCIAL INSTITUTIONS AND DEALERS The Town of Collins shall maintain a list of financial institutions and dealers approved for investment purposes and establish appropriate limits on the amount of investments which can be made with each financial institution or dealer. All financial institutions with which the local government conducts business must be creditworthy. Banks shall provide their most recent Consolidated Report of Condition (Call Report) at the request of the Town of Collins. Security dealers not affiliated with a bank shall be required to be classified as reporting dealers affiliated with the New York Federal Reserve Bank as primary dealers. The Town of Collins is responsible for evaluating the financial position and maintaining a listing of proposed depositaries, trading partners and custodians. Such a listing shall be evaluated at least annually. XII. PURCHASE OF INVESTMENTS The Town Supervisor is authorized to contract for the purchase of investments: 1. Directly, including through a repurchase agreement, from an authorized trading partner. 2. By participation in a cooperative investment program with another authorized governmental entity pursuant to Article 5G of the General Municipal Law where such program meets all the requirements set forth in the Office of the State Comptroller Opinion No. 88-46, and the specific program has been authorized by the governing board. 3. By utilizing an ongoing investment program with an authorized trading partner pursuant to a contract authorized by the governing board. All purchased obligations unless registered or inscribed in the name of the local government, shall be purchased through, delivered to and held in custody of a bank or trust company. Such obligations shall be purchased, sold or presented for redemption or payment by such bank or trust company only in accordance with prior written authorization from the officer authorized to make ORGANIZATIONAL MEETING TOWN OF COLLINS JANUARY 5, 2026 8