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the investment. All such transactions shall be confirmed in writing to the Town of Collins by the bank or trust company. Any obligations held in the custody of a bank or trust company shall be held pursuant to a written custodial agreement as described in General Municipal Law, 10. The custodial agreement shall provide those securities held by the bank or trust company, as agent of and custodian for, the local government, will be kept separate and apart from the general assets of the custodial bank or trust company and will not, in any circumstances, be commingled with or become part of the backing for any other deposit or other liabilities. The agreement shall describe how the custodian confirm the receipt and release of the securities. Such an agreement shall include all provisions necessary to provide the local government with a perfected interest in the securities. XIII. REPURCHASE AGREEMENTS Repurchase agreements are authorized subject to the following restrictions: ∗ All repurchase agreements must be entered into subject to a Master Repurchase Agreement. ∗ Trading partners are limited to banks or trust companies authorized to do business in New York State and primary reporting dealers. ∗ Obligations shall be limited to obligations of the United States of America and obligations guaranteed by agencies of the United States of America. ∗ No substitution of securities will be allowed. ∗ The custodian shall be a party other than the trading partner. Adopted January 5, 2026 By THE COLLINS TOWN BOARD APPENDIX A Schedule of Eligible Securities ___ (i) Obligations issued or fully insured or guaranteed as to the payment of principal and interest, by the United States of America, an agency thereof or a United States government sponsored corporation. ___ (ii) Obligations issued or fully guaranteed by the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, and the African Development Bank ___ (iii) Obligations partially insured or guaranteed by any agency of the United States of America, at a proportion of the Market Value of the obligation that represents the amount of the insurance or guaranty. ___ (iv) Obligation issued or fully insured or guaranteed by the State of New York, obligations issued by a municipal corporation, school district or district corporation of such State or obligations of any public benefit corporation which under a specific State statute may be accepted as security for deposit of public moneys. ORGANIZATIONAL MEETING TOWN OF COLLINS JANUARY 5, 2026 9