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Home My WebLink AboutCC RES 00-094 A RESOLUTION APPROVING A PROPOSAL FOR INVESTMENT POLICY REVIEW Meeting Sheet IIIIIIVIIIVIIIVIIIVIIIVIIIIIIIIIII 104857 Box: 31 Folder: RES 2000 Document: CC RES 00-094 A RESOLUTION APPROVING A PROPOSAL FOR INVESTMENT POLICY REVIEW • CITY OF ST. ANTHONY RESOLUTION 00-094 A RESOLUTION APPROVING A PROPOSAL FOR INVESTMENT POLICY REVIEW WHEREAS, the St. Anthony City Council desires a review of the City's investment practices; and WHEREAS, Ehlers & Associates, Inc. has submitted a proposal to review the City's existing investment practices and to recommend an investment policy that will assure that City funds are invested safely at a reasonable yield. NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of St. Anthony hereby approves the proposal by Ehlers & Associates, Inc. to review the City's investment policy at a cost not to exceed $2,5 0. • Adopted this �� day of ' 2000. ay ATTEST: City Clerk Reviewed by Administration: City Manager December 4, 2000 EHLERS • & ASSOCIATES INC Mike Mornson City Manager St. Anthony Village 3301 Silver Lake Road St. Anthony, MN 55418-1699 Subject: Proposal for Investment Policy Review Dear Mike, You have requested a proposal regarding a review of your investment practices. It is our understanding that the purpose of this study is to provide an investment policy that will assure that city funds are invested safely yet provides a reasonable yield. It is important to note that Ehlers& Associates does not provide direct investment services. We can and do provide our clients advise related to invest policies. The scope of these services will include the following: • ❑ Review of existing investment practices of the City of St. Anthony Village ❑ Recommended investment policies These services would be provided by Steve Apfelbacher and Liz Johnson. Copies of qualifications for Mr. Apfelbacher and Ms. Johnson are attached for your review. The fee for the services as outlined would be $150 per hour with a maximum fee not to exceed $2500. This work would be completed within 30 days after authorization. Please call if you have any questions regarding this proposal. We look forward to the opportunity to work with you on this project. Sincerely, EHLERS & ASSOCIATES, INC. Jim Prosser,Financial Advisor Steve Apfelbacher,President Liz Johnson,Financial Advisor 1, • Equal Opportunity Employer L E A D E R S I N P U B L I C F I N A N C E Charter Member of the National Association of Independent Public Finance Advisors 3060 Centre Pointe Drive, Roseville, MN 55113-1105 651 697 8500 fax 651 697 8555 www ehlers-inc corn • Steve Apfelbacher EXPERIENCE ❑ Actively involved in public finance with Ehlers and Associates since 1979 ❑ Serves on the Board of Directors of Ehlers and Associates ❑ Major clients include: Financial Over 70 cities and villages in Minnesota and Wisconsin Advisor Public utilities within Minnesota, Wisconsin,Michigan, and Iowa Counties President/Board School districts of Director Special districts Certified ❑ Financial Advisor for over 200 revenue bond issues resulting in extensive Independent experience with the public service commissions and other user charge Public Finance systems Advisor ❑ Financial Advisor for over 500 various general obligation municipal Bachelor of bonds,pure revenue bonds, current and advance refundings,cash flow Science; financings,lease purchase financings, pooled financing, municipal University of disclosure, bond ratings and credit enhancements Minnesota - Economics SPECIAL EXPERTISE major ❑ Economic development/redevelopment packaging Graduate work; ❑ Tax increment financing including the creation of over 100 tax increment University of districts Minnesota - ❑ Revenue/utility financing Public ❑ Credit analysis/presentation to Moody's Investors Service and Standard& Administration Poor's ❑ League of Minnesota Cities (a comprehensive cash management service for Minnesota cities) ❑ Minnesota Association of Governments Investing for Counties (a comprehensive cash management service for Minnesota counties) RELATED EXPERIENCE ❑ Three terms as city council member for a Twin Cities first tier growth community ❑ Four years as Executive Director of a Twin Cities housing and redevelopment authority and community development director. Administrated over$20 million of federal,state and local development funds resulting in over 300 new jobs and $40 million in private development ❑ Recognized public finance panelist/lecturer to various municipal and related organizations Elizabeth Johnson EXPERIENCE ❑ Finance Director for the City of Cottage Grove ❑ Auditor for the Minnesota Office of State Auditor Financial Advisor ❑ Financial advisor to the Council and Administration of the City of Certified Public Cottage Grove Accountant ❑ Managed the City of Cottage Grove Investment portfolio and instituted the Investment Committee Bachelor of Arts, University of St ❑ Revised the City of Cottage Grove's Investment Policy, Fixed Asset Thomas Policy, Economic Development Trust Fund Policy and Health Care and Dependent Care Reimbursement Policy ❑ Completed a comprehensive review of the City's Tax Increment Financing Districts in order to determine compliance with applicable State law ❑ Managed the City of Cottage Grove's audit process and produced the • annual Comprehensive Annual Financial Statements ❑ Assisted in preparation of the City of Cottage Grove's annual budget and five year capital improvement plan ❑ Auditor on the City of Minneapolis and Minneapolis Community Development Agency audits ❑ Lead auditor for the City of Minneapolis Library Board and State and Orpheum Theatre audits •