HomeMy WebLinkAboutResolution 0731.1
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W11ERrA-':, tilt' {'ounlc•il h.i:-_ ;i;ithi,l 1:,(-d tht. vil-st Vt.ite. i?ttii), tat
1-#t='i5 1A1• ightcjn to operii n .i';'i ijriE _• -.-r i un#- i l; t_..c „r„ . o_ # eiv r i iiy �J
iONPEA'S, thr- p1iip—e of tAifi saviii+i a-accou.1t i' "'U 0d -tali N, s
traximum inve n rivni 1-r-fOrn fir 01v pity fund F;, jnd
WHEREAS, City, b=ra: t cv has been to urrpay debt serviot= prinvip1p-
rind interest injitailmonita anti &tich practic-R lids resulted In a lass
of irove vtmi_r.t 0nc i -L•
WHEAE46, a Wiro tran#for tit funits to pay yeti- onrvino inetdllMonte
loan be-- mala gn tha clay su£hlnntallrlar;ts are due thereby all inu
mttximUM inventment of iril(� debt !,ni-vivv, nrid
WHEREAS, tbO transfer of funds for investment purposes may be
F made most expeditiously by tel-!rhone, and
= WhElib -b, such transfers are handled by tho first Et�Ate Donn ut
NeW..-SrighLon in a mansier that pruvidoz tu11 aLct�nt�l�i�� ana -
- auditantlity, and
WHEREAS, the rity holds fids.=lity Monde in the amount of $50,000
dadb for the Clerk -Admin i Tatra for and the Deputy Treasurer,
l - Ir-HRRI1t't1RE; RR iT- Raac_'URD that tale eaui%r " or mounds
iutboriz1nR the Pir€t Htatu br-M of kl,,- iii j xitotn to aeqffpt talaphuu
transfers of funda betwPon he City ginerel chackirin aee€ant. AAO
sav r ae hf-ru„L, trom tila gatiorail cheekin�, account. for pvrvhss#%
u investmanL Instruments, and from she gcAoral obt xing- account
to debt aeryice paving aaeni«s: Tho Clsxk-Adminiv iator or his
desic-IrAted r�asiet.d-nt, the Deputy TroosOrer, are boroby authorizmd
t -a_ jolaze :pial•. Wlephona t rang i ors with Lhe. i'lrst State Bank Of Atly -
brichton.
BE IT -rUPTlMM tt :,,`OLVJ;N llilt --'j such telephone tvina€err shall --
be accounted for ' n a manner coilgi chant with acceptad governmental
acinounting principlaa includinq maintennne-n of A full. rind clear
audit trail,
// Adopted this 26111_ day of
A` TEST c
(HEAL)
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Mer mcg` i' strator