HomeMy WebLinkAboutResolution No. 2024-15 - VOIDED
Resolution – Authorizing Use of LGIP - 1
RESOLUTION NO. 2024-15
A RESOLUTION OF THE PASCO PUBLIC FACILITIES DISTRICT
BOARD, AUTHORIZING INVESTMENT OF PASCO PUBLIC FACILITIES
DISTRICT MONIES IN THE LOCAL GOVERNMENT INVESTMENT POOL.
WHEREAS, the Pasco Public Facilities District (PPFD) was duly formed pursuant to
Chapter 35.57 of the Revised Code of Washington on July 15, 2002, by the adoption of City of
Pasco Ordinance No. 3558, and granted all powers provided by law pursuant to RCW 35.57.010;
and
WHEREAS, pursuant to Chapter 294, Laws of 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, the Pasco Public Facilities District, 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 first duly authorized by the Pasco Public Facilities District Board, the
“governing body” or any 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 any designee 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.
Resolution – Authorizing Use of LGIP - 2
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 Board of Directors authorize the
contribution and withdrawal of governmental entity monies in the LGIP in the manner prescribed
by law, rule, and prospectus, attached hereto as Exhibit A.
Section 2. The Pasco Public Facilities District Board of Directors has approved the
Local Government Investment Pool Authorization Form (Form) as completed by Pasco Public
Facilities District and incorporates said form into this resolution by reference and does hereby
attest to its accuracy.
Section 3. The Pasco Public Facilities District Board of Directors designates the
Fiscal Agent (The City of Pasco) representatives Director of Finance, Finance Manager, and Lead
Accountant (titles), as the “authorized individual(s)” to authorize all amendments, changes, or
alterations to the Form or any other documentation including the designation of other individuals
to make contributions and withdrawals on behalf of the governmental entity.
Section 4. That the Form as incorporated into this resolution or hereafter amended
by delegated authority, or any other documentation signed or otherwise approved by the
authorized individual shall remain in effect after revocation of the authorized individual’s
delegated authority, except to the extent that the authorized individual whose delegation has been
terminated shall not be permitted to make further withdrawals or contributions to the LGIP on
behalf of the governmental entity. No amendments, changes, or alterations shall be made to the
Form or any other documentation until the entity passes a new resolution naming a new
authorized individual
Section 5. The Pasco Public Facilities District Board acknowledges that it has
received, read, and understood the prospectus as provided by the Office of the State Treasurer.
In addition, the governing body agrees that a copy of the prospectus will be provided to any
person delegated or otherwise authorized to make contributions or withdrawals into or out of the
LGIP and that said individuals will be required to read the prospectus prior to making any
withdrawals or contributions or any further withdrawals or contributions if authorizations are
already in place.
Section 6. That this Resolution shall take effect immediately.
Resolution – Authorizing Use of LGIP - 3
PASSED by the Pasco Public Facilities District Board of Directors, of Pasco, Washington,
this 19th day of November, 2024.
PASCO PUBLIC FACILITIES DISTRICT
__________________________________
Mark Morrissette, Board President
ATTEST: APPROVED AS TO FORM:
_____________________________ ___________________________
Caroline Bowdish, Secretary/Treasurer Kerr Ferguson Law, PLLC
Pasco Public Facilities District Attorney for PPFD