ALP 6

VIII.
IX.
The i
revie,
Because of inherent difficulties in accurately forecasting cash flow requirements for
specific programs, a portion of the portfolio should be continuously invested in readily
available funds such as the Colorado State Treasurer's Investment Pool, local government
investment pools (e.g. COLOTRUST), or other qualified money market funds to ensure
that appropriate liquidity is maintained to meet ongoing obligations.
3. Competitive Bids
Excluding securities purchased through the State Treasurer's Office, the investment
officer shall obtain competitive bids from at least two brokers or financial institutions on
all purchases of investment instruments purchased on the secondary market. The
Committee may waive this requirement for amounts involving less than one million
dollars ($1,000,000).
Bond proceeds that are invested in repurchase agreements shall be done in accordance
with the safe harbor provisions of 26 CFR Part 1, Section 1.148- 5(d)(6)(110. The
Authority shall purchase repurchase agreements pursuant to a competitive bidding
process (in which bids are solicited from at least three reasonably competitive providers
and received from at least three providers with no material financial interest in the bonds
being issued (at least one of which is a reasonably competitive provider)) from the
provider offering the highest yield.
Reporting
The Treasurer shall report investment performance to the Board no less frequently
than at regularly scheduled Board of Director meetings. These reports shall describe such
items as investment balances, income and yields.
I . Investments, including deposit and investment risk disclosures, will be reported in
the Authority's annual financial statements in accordance with all applicable
Governmental Accounting Standards Board ( "GASB ") statements.
pproval of Investment Policy
Ament policy shall be formally approved and adopted by the Authority's Board and
annually.
Approved Ind Adopted December ]. 2006 8