208 Establishing and Appointing an Investment Committee
RESOLUTION NO. 206
RESOLUTION FOR INVESTMENTS OF THE CITY OF MERIDIAN
BY: ~nei!n7an ~/~d/
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MERIDIAN
ESTABLISHING AND APpr ~ING AN INVESTMENT COMMITTEE AND
DIRECTING AND EMP/ ." THE CITY TREASURER TO INVEST IDLE
FUNDS OF THE CTn- \l IN ACCORDANCE WITH I..C. ~s 50-1013
AND 50-1013" 11'\ OOVv~'E.
~ .U\V- V . City Council to provide for a process by
,,,,,0' /;l fh ',plished in a manner that maxilnizes a
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l)" IV! '~ofI.C.ss50-1013and50-1013A;and
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by the
appoil1tl1
'-hat its intentions can be facilitated
,210 by the establishment and
.e City Treasurer; and
WHb
City ClerIc anl
serve on the COl.
...-u.ncil that the Mayor, Council President,
~propriate elected officials and City officers to
WHEREAS) und that the amount and l1umber of investment decisions that
will need to be InadL In order to be efficient al1d timely require that the Treasurer be
directed al1d empowered by this resolution to n1alce reasonable investments upon the
advise and consent of the Investment Committee; and
WHEREAS, it is found that it is in the best interests of the City to direct and
empower the City Treasurer to establish an aCcoul1t with Buffington, Mohr, McNeal
Registered Investment Advisor in accordance with their proposal to the City dated the
22nd day of June, 1998, to assist and effect this investment directive subject to all
investments being in accordance with I.C. SS 50-1013 and 50-1013A as is appropriate.
RESOLUTION FOR
INVESTMENTS OF THE CITY OF MERIDIAN - 1
NOW, THEREFORE, BASED UPON THE ABOVE AND FORGOING IT IS
HEREBY RESOLVED AND THIS DOES RESOLVE THAT:
1. There is hereby established a11 Investment Committee which cOlumittee
shall have the duty to advise the City Treasurer on the investment of idle funds of the
City in accordance with the restrictions 011 the type of investments and the manner in
accordance with I.C. SS 50-1013 and 50-1013A as is appropriate; and
2. The Investment Committee shall consist at all times of the currently
serving Mayor and Council President and the currently serving City Clerk and Treasurer
and the same are hereby appointed by virtue of the elected office or officer position they
hold; and
3. The City Treasurer is hereby directed and empowered by this resolution
to invest such idle funds of the City as are approved by a majority of the Investment
Committee subject to the condition that specific investment transaction/s shall include
the City Treasurer's signature and the signature of one other COffilnittee member; and
4. The City Treasurer is hereby specifically authorized directed and
empowered to establish an investment account with Buffington, Mohr, McNeal
Registered Investment Advisors in accordance with their proposal as submitted to the
City Council ~ntitIed "Investment Strategy for funds held by City of Meridian dated
June. 22, ~ 998, and to sign all necessary documents together with the City CIerI, to carry
out this directive and empowerment.
'pASSED BY~E CIT):' COUNCIL OF THE CITY OF MERIDIAN, IDAHO,
this 1st!::- day of. eern-!J.<A, , 199$.
APPRO~D BY THE MAYOR OF THE CITY OF MERIDIAN, IDAHO, this
I~ day of ./)ece~f- , 199B.
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RESOLUTION FOR ~"'/"... OAf h .q-v ~ ,,~'
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INVESTMENTS OF THE CITY OF MERlDIAN - ~/IIIIlIH t1\t\'\\"
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CERTIFICATE OF CLERK
OF
THE CITY OF MERIDIAN
I, the undersigned, do hereby cenify:
1. That I aITI t11e duly appointed and elected ClerIc of the City of Meridian,
a duly incorporated City operating under the lavvs of the State of Idaho, with its
principal office at 33 East Idaho, Meridian, Idaho.
2. That as the City ClerIc of this City,_ I am the eu tadian of i~s records and
minutes and do hereby certify that on the f S-f!; day of €e.{!m be r ,
199 _, t11e following action has been taken and allthorized:
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MERIDIAN
ESTABLISHING AND APPOINTING AN INVESTMENT COMMITTEE AND
DIRECTING AND EMPOWERING THE CITY TREASURER TO INVEST IDLE
FUNDS OF THE CITY OF MERIDIAN IN ACCORDANCE WITH I.C. 9950-1013
AND 50-1013AAS THE CASE NlAY BE..
WHEREAS, it is the intention of the City Council to provide for a process by
which the investnlent of City Funds is acconlplished in a lllanner that maxi11uzes a
retllrn and is in accordance with the requirements of I.. C. ss 50-1013 and 50-10 13A; and
WHEREAS, it is fOtlnd by the City Council that its intentions can be facilitated
by the exercise of its authority under I.C.. S 50-210 by the establishment and
appointment of an Investment Committee to advise the City Treasurer; and
WHEREAS, it is found by the City Council that the iYlayor, Council President,
City ClerIc and City Treasurer are the appropriate elected officials and City officers to
serve on the committee; and
WHEREAS, it is found that the an10unt and nLlmber of investment decisions that
will need to be n1ade in order to be efficient and tilnely require that the Treasurer be
directed and elnpowered by this resolution to ill a Ice reasollable investlnents Up011 t11e
advise and consent of the Invest111ent C0111il1ittee; a11d
CERTIFIC.A. TE OF CLERK OF THE
CITY OF MERlDIAN
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WHEREAS, it is found that it is in the best interests of the City to direct and
en1povver the City Treasurer to establish an account with Buffington, NIohr, McNeal
Registered Investn1ent Advisor in accordance vvith their proposal to the City dated the
22nd day of June, 1998, to assist and effect this investment directive subject to all
invest111ents being in accordance witl1 I.C. s~ 50-1013 and 50-1013A as is appropriate.
NOW, THEREFORE, BASED UPON THE ABOVE AND FORGOING IT IS
HEREBY RESOLVED AND THIS DOES RESOLVE THAT:
1. There is hereby established an Investment Committee which committee
shall have the duty to advise the City Treasurer on the investment of idle funds of the
City in accordance with the restrictions on the type of investments and the manner in
accordance with I.C-. 99 50-1013 and SO-lOI3A as is appropriate; and
2.. The Investment Committee shall consist at all times of the currently
serving Mayor and Council President and the currently serving City Clerl<. and TreaslIrer
and the same are hereby appointed by virtue of the elected office or officer position they
hold; and
3.. The City Treasurer is hereby directed a11d empovvered by this resolution
to invest such idle flInds of the City as are approved by a majority of the Investment
Comlnittee subject to the condition that specific investment transaction/s shall include
the City Treasurer's signature and the signature of one other con1mittee member; and
4. The City Treasurer is hereby specifically authorized directed and
empovvered to establish an investment account with Buffington, Mohr, McNeal
Registered Investment Advisors in accordance vvith their proposal as submitted to the
City Council entitled "Investment Strategy for funds held by City of Meridian dated
June 22, 1998, and to sign all necessary documents together with the City Clerl( to carry
out this directive and empowerment.
CERTIFICATE OF CLERK OF THE
CITY OF MERlDIAN
\;XUr~\1 G. BERG
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STATE OF IDAHO,)
55.
County of Ada,
On this /SfJIdayof Dec.p.l"1.b("- ,intheyearI998,beforeme,
..dQ.II\.; c.~ 1-.. G-CA.SS a Notary Public, appeared
WILLIAl\1 G. BERG, JR., l<.nown or identified to lne to be the City CIerI, of the City of
Meridian, Idaho that executed the said instrument, and aclmovvledged to 111e that he
executed.~.~e same on behalf of the City of Ivleridian..
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msg\D:\1v1yFiles\lV1eridian City File\Resoultions\CERTIFICATE CI1Y CLERIC FOR Ccity Investment.\vpd
CERTIFICATE OF CLERK OF THE
CITY OF MERIDIAN
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