Debt Service and Investments

For Houston area banks or savings and loan associations wishing to be designated as depositories to sell fully collateralized Certificates of Deposit to METRO, please contact Sheila Lefang at Sheila.Lefang@ridemetro.org. Interested banks or savings & loan associations will be expected to present evidence of strength, creditworthiness, experience and reputation by submitting current audited financial statements and marketing materials describing the bank's CD program, 12-month rate history and, if applicable, participation in any CDARs programs.

METRO requires that banks or savings and loan associations designated as depositories to sell fully collateralized Certificates of Deposit to METRO certify that they have reviewed METRO's Investment Policy and that their firm complies with the Texas Government Code Chapter 2256 – Public Funds Investment Act (“PFIA”) rules regarding procedures and controls that preclude transactions not authorized by PFIA or METRO’s Investment Policy.

Recommendations for designation will be submitted to METRO's Board of Directors for approval on an annual basis.

For Municipal Debt Underwriters interested in working with METRO, please contact Sheila Lefang at Sheila.Lefang@ridemetro.org. Every year METRO establishes a pool of underwriters. This approved pool only serves as a pre-screening in order to recognize a firm’s qualifications and eligibility to participate in any potential underwriting syndicates used for the issuance of debt.

Inclusion on this list in no way represents or implies any obligation whatsoever on the part of METRO.

Admission and re-admission in the pool requires an annual review for compliance to METRO’s approved set of standards. Recommendations for the pool are submitted to METRO's Board of Directors for approval on an annual basis.

For Broker/Dealers interested in being certified to sell securities to METRO, please contact Sheila Lefang at Sheila.Lefang@ridemetro.org.

Broker/Dealers interested in this certification will be expected to submit evidence of appropriate National Association of Securities Dealers registrations, demonstrate compliance with Securities and Exchange Commission Rule 15C3-1 (uniform Net Capital Rule) and audited financial statements demonstrating creditworthiness, experience and reputation.

Additionally, the Texas Government Code Chapter 2256 – Public Funds Investment Act (“PFIA”) requires that Broker/Dealers certify that they have reviewed METRO's Investment Policy and that their firm complies with PFIA rules regarding procedures and controls that preclude transactions not authorized by PFIA or METRO’s Investment Policy.

Certifications are recommended to METRO's Board of Directors for approval on an annual basis.