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HomeMy WebLinkAbout3563 ResolutionRESOLUTION NO. 35-&-3 A RESOLUTION AUTHORIZING INVESTMENT OF MONIES IN THE LOCAL GOVERNMENT INVESTMENT POOL. 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 City of Pasco, 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 first duly authorized by the Pasco City Council, 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. NOW THEREFORE, BE IT RESOLVED that the governing body does hereby authorize the contribution and withdrawal of governmental entity monies in the LGIP in the manner prescribed by law, rule, and prospectus. BE IT FURTHER RESOLVED that the governing body has approved the Local Government Investment Pool Transaction Authorization Form (Form) as completed by Dunyele Mason and incorporates said form into this resolution by reference and does hereby attest to its accuracy. BE IT FURTHER RESOLVED that the governmental entity designates Dunyele Mason, Finance Manager, as the "authorized individual" 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. BE IT FURTHER RESOLVED that this delegation ends upon the written notice, by any method set forth in the prospectus, of the governing body that the authorized individual has been terminated or that his or her delegation has been revoked. The Office of the State Treasurer will rely solely on the governing body to provide notice of such revocation and is entitled to rely on the authorized individual's instructions until such time as said notice has been provided. BE IT FURTHER RESOLVED 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; and BE IT FURTHER RESOLVED that the governing body 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. 2014. PASSED by the City Council of the City of Pasco, Washington, this 16th day of June, SIGNED in authentication of its passage this L day of d U , 2014 Matt Watkins, Mayor A 0 JJOC ebra Clark, City Clerk Leland B. Kerr, City Attorney LOCAL GOVERNMENT INVESTMENT POOL TRANSACTION AUTHORIZATION FORM Please fill out this form completely, including any existing information, as this form will re lace the previous form. Name of Entity: Mailing Address: Fax Number: E-mail Contact: Do you wish to have your monthly LGIP statements faxed to the number listed above? Please note — if you choose to receive statements via fax, you will not receive another copy via U.S. mail. YES, please fax statements F No, please send statements via U.S. mail Bank account where funds will be wired when a withdrawal is requested. (Note: Funds will not be transferred to any account other than that listed). Bank Name: Branch Location: Bank Routing Number: Account Number: Account Name: Persons authorized to make deposits and withdrawals Tor the entity ustea above. Name Title I Signature I Telephone Number F., i .,,,, n,. +hnrivarl to rP„ resent the inctitntinn /auencv for the purpose of this transaction. 1S 81 RULU1c uciv vv, __ - - - -- - -_ ------- __.. -. (Authorized Si nature) (Title) (Date) (Print Authorized Si nature) E -»tail Address) (Telephone number) Any changes to these instructions must be submitted in writing to the Office of the Mate t reasurer. Please man this form to the address listed below: OFFICE OF THE STATE TREASURER Date Received: LOCAL GOVERNMENT INVESTMENT POOL Fund Number: PO Box 40200 (for LGIP use only) OLYMPIA, WA 98504 -0200 FAX: (360) 902 -9044 State of Washington ) County of ) ss. Signed or attested before me by Dated this _ day of , 20_. Signature of Notary SEAL OR STAMP Typed or printed name of Notary Notary Public in and for the State of Wash. My appointment expires: