Government Contract | North Carolina
Broker-Dealer Investment Services

Bid Information

Bid Alert No: 00000447195

Bid Title: Broker-Dealer Investment Services

Agency Bid No. Title: 2016-027

Received Date: 12/23/2015

Close Date: 01/12/2016

Purchase Type: Not Stated

Delivery Point:

Delivery Date: Not Stated

Special Notices: Questions Due By 01/05/2016 05:00 PM


Specifications include, but are not limited to:This policy applies to the investment of short-term operating funds (those with maturities of five years or less). It is the general policy of Union County to co-mingle all available aforementioned cash into a common investment portfolio with interest and/or investment earnings allocated to the various funds on a pro-rata basis. Specifically exempted from this policy are Social Services and Jail Inmate Fund trust accounts, (whereby Union County serves as the trustee for assets belonging to others) and bond and /or note proceeds. Regulations established by the Internal Revenue Service require local governments to exercise special treatment in the investment of bond and/or note proceeds, including the implementation of procedures designed to separately track investment earnings on the bond and/or note proceeds for arbitrage and rebate calculations. II. General Objectives The primary objectives, in priority order, of investment activities shall be safety, liquidity, and yield: A. Safety - Safety of principal is the foremost objective of the investment program. Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. The objective will be to mitigate credit risk and interest rate risk. 1. Credit Risk - Union County will minimize credit risk, the risk of loss due to the failure of the security issuer or backer, by: a) Limiting investments to the safest types of securities b) Pre-qualifying the financial institutions and broker/dealers with which Union County will do business c) Diversifying the investment portfolio so that potential losses on individual securities will be minimized. 2. Interest Rate Risk - Union County will minimize the risk that the market value of securities in the portfolio will fall due to changes in general interest rates, by: a) Structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity b) Investing operating funds primarily in shorter-term securities

Bid Related Documents

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Product Code: 94656

Agency Information

Issuing Agency: County of Union

State: North Carolina

Agency Type: State and Local

Contact: David Shaul, Procurement Division Public Works, 500 North Main Street, Suite 500, Monroe, North Carolina, 28112

Phone: 704-283-3601




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