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.
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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