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HomeMy WebLinkAboutResolution No. 2024-20 - US Bank for PPFD Banking Investment ServicesRESOLUTION NO.2024-20 A RESOLUTION OF THE PASCO PUBLIC FACILITIES DISTRICT BOARD ADOPTING U.S. BANK AS ITS FINANCIAL INSTITUTION, THE SAME BANK UTILIZED BY THE CITY OF PASCO, WASHINGTON, WHICH IS THE FISCAL AGENT FOR THE PASCO PUBLIC FACILITIES DISTRICT AND APPROVE ITS INVESTMENT RESOLUTION. 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, the PPFD Board approved Resolution No. 2024-10, adopting its Personal Service Providers Policy on September 17, 2024; and WHEREAS, the PPFD Board approved Resolution No. 2024-11, adopting its US Bank as its bank for services on October 22, 2024, as the PPFD's Fiscal Agent is the City of Pasco, Washington, and per the Personal Service Providers Policy, the PPFD Board shall make a formal written Resolution stating the adoption of the banking service provider utilized by the Fiscal Agent; and WHEREAS, US Bank is requesting the PPFD Board approve its own Investment Resolution, attached hereto as Exhibit A. 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) approves and will sign the U.S. Bank Investment Resolution. Section 2. That this Resolution shall take effect immediately. PASSED by the Pasco Public Facilities District Board of Directors, of Pasco, Washington, on this 17a' day of December, 2024. PASCO PUBLIC FACILITIES DISTRICT Mark orrissette, � oard President ATTEST: (�aA ��L j�t4'1-11 Caroline Bowdish, Se etary/Treasurer Pasco Public Facilities District APPROV AS TO FORM: Kerr Fer on Law, PLLC Atto for PPFD Resolution — 2024-20 — U.S. Bank Investment Resolution Approval - 1 EXHIBIT A INVESTMENT RESOLUTION Pasco Public Facilities District (PPFD) (Name of Public Agency) RESOLVED, that any one of the officers of this public agency designated below: Mark Morrissette, PPFD President; Matt Watkins, PPFD Executive Director; Darcy Buckley, City of Pasco Finance Director; Veronica Perez, City of Pasco Lead Accountant (identify authorized officers by title e.g. Treasurer, Controller, Director of Finance, etc.) is/are authorized, on behalf of and in the name of this public agency, (a) to direct, orally or in writing or electronically or through any other medium agreed to by said officer(s) and the Money Center Department of U.S. Bank National Association ("Money Center"), the opening of an investment account and the investment of public agency funds in securities and/or time deposits with and/or through the Money Center through such account; (b) to execute, on behalf of the public agency, contracts or agreements in connection with such investment account in the usual form provided by the Money Center for such accounts generally; (c) to receive in respect of said investment account confirmations, receipts, notices, demands, reports, and communications of any kind; (d) to receive in respect of said investment account money, securities, time deposits, and property of every kind, and to dispose of same; (e) to endorse and deliver for deposit, negotiation, transfer, pledge, or sale, and to identify or guarantee signatures or endorsements on, notes, certificates of deposit, checks, and securities of all kinds, either belonging to or coming into the possession of the public agency; and (f) to authorize, orally or in writing or through any other medium agreed to by said officer(s) and the Money Center, the debiting and/or crediting by the Money Center of this public agency's deposit account(s) at any financial institution for the purpose of effecting such transaction. FURTHER RESOLVED, that the PPFD Board (identify certifying officer by title) of this public agency is authorized and directed to certify to the Money Center the foregoing resolutions and that the provisions thereof are in conformity with the resolutions, articles, bylaws, policies or other governing document of this public agency and to certify to the Money Center the names of the persons now holding the offices referred to above and any changes hereafter in the persons holding said offices together with specimens of the signature of such present and future officers. FURTHER RESOLVED, that the authority granted to the officers of this public agency shall continue in full force and effect, and the Money Center may rely thereon in dealing with such officers, unless and until written notice of any change in or revocation of such authority shall be delivered to the Money Center by an officer of this public agency, and any action taken by said officers and relied on by the Money Center pursuant to the authority granted herein to its receipt of such written notice shall be fully and conclusively binding on this public agency. FURTHER RESOLVED, that the actions of any officer of this public agency heretofore taken in opening an investment account with the Money Center and in the investment of public agency funds through such account, be, and the same hereby are in all respects, ratified, confirmed, and approved. FURTHER RESOLVED, that all prior resolutions of this public agency authorizing the opening of an investment account with the Money Center and the investment of public agency funds through such account, be, and the same hereby are, rescinded and superseded as to all such transactions with respect thereto effected after the date of adoption of these resolutions. CERTIFICATE I hereby certify that I am the PPFD Board President (identify certifying officer by title) of Pasco Public Facilities District (PPFD) , a public agency organized and existing and in good standing under the laws of the State of Washington , and that I have full power and lawful authority to execute this Certificate on behalf of the public agency. I further certify that set forth below are the true titles, names and genuine signatures of the duly elected or appointed, qualified and acting officers of the public agency presently holding such offices who are authorized under the foregoing resolutions: TITLE PPFD Board President NAME SIGNATURE Mark Morrissette PPFD Executive Director Matt Watkins Pasco Finance Director Darcy Buckley Pasco Lead Accountant Veronica Perez IN WITNESS WHEREOF, I have affixed by name in my official capacity as PPFD Board President (identi certifying officer by title) on this 17th day of December . 20 24 Signature Name Mark Morrissette Title PPFD Board President (Signature, name and title of certifying officer)