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HomeMy WebLinkAboutResolution No. 2024-14 Authorizing Investments w LGIPRESOLUTION NO. 2024-14 A RESOLUTION OF THE PASCO PUBLIC FACILITIES DISTRICT BOARD, AUTHORIZING INVESTMENT OF PASCO PUBLIC FACILTIIES DISTRICT FUNDS IN THE LOCAL GOVERNMENT INVESTMENT POOL (LGIP) WHEREAS, in 1986, the Legislature created a trust fund to be known as the public funds investment account (commonly referred to as the Local Government Investment Pool (LGIP)) for the contribution and withdrawal of money by an authorized governmental entity for purposes of investment by the Office of the State Treasurer; and WHEREAS, from time to time it may be advantageous to the authorized governmental entity, Pasco Public Facilities District (PPFD), the "governmental entity", to contribute funds available for investment in the LGIP; and WHEREAS, the investment strategy for the LGIP is set forth in its policies and procedures; and WHEREAS, any contributions or withdrawals to or from the LGIP made on behalf of the governmental entity shall be duly authorized by the PPFD, the "governing body" and The City of Pasco (Fiscal Agent) designee of the governing body pursuant to this resolution, or a subsequent resolution; and WHEREAS, the governmental entity will cause to be filed a certified copy of said resolution with the Office of the State Treasurer; and WHEREAS, the governing body and The City of Pasco (Fiscal Agent) appointed by the governing body with authority to contribute or withdraw funds of the governmental entity has received and read a copy of the prospectus and understands the risks and limitations of investing in the LGIP; and WHEREAS, the governing body attests by the signature of its members that it is duly authorized and empowered to enter into this agreement, to direct the contribution or withdrawal of governmental entity monies, and to delegate certain authority to make adjustments to the incorporated transactional forms, to the individuals designated herein. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE PASCO PUBLIC FACILITIES DISTRICT AS FOLLOWS: Section 1. The Pasco Public Facilities District (PPFD) authorizes Fiscal Agent to contribute and withdraw funds of the PPFD for investment of district funds in the Local Government Investment Pool (LGIP). Section 2. That this Resolution shall take effect immediately. 1 PASSED by the Pasco Public Facilities District Board of Directors, of Pasco, Washington, on this 22"d day of October, 2024. PASCO PUBLIC FACILITIES DISTRICT ark Morrissette, Board President ATTEST: Caroline Bowdish Secretary/Treasurer Pasco Public Facilities District APPROVED AS TO FORM: Kerr Fe on Law, PLLC Attgai6y for PPFD