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Home My WebLink About5046 RESOLUTION NO. 5 0 4 6 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, AUTHORIZING THE CONTRIBUTION AND WITHDRAWAL OF CITY MONIES IN THE STATE OF WASHINGTON 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 [hereinafter "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 City of Auburn 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 City of Auburn shall be first duly authorized by the City or its designee pursuant to this Resolution or a subsequent Resolution, and WHEREAS, the designee vested by the City of Auburn with authority to contribute or withdraw funds of the City has received and read a copy of the prospectus and understands the risks and limitations of investing in the LGIP; and WHEREAS, the City Council understands that the Office of the State Treasurer of the State of Washington will rely solely on the City of Auburn 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; and Resolution No. 5046 February 11, 2014 Page 1 of 4 WHEREAS, the City Council further understands that the Local Government Investment Pool Transaction Authorization Form, a copy of which is attached hereto, marked as Exhibit "A" and incorporated herein by this reference, or hereafter amended by the City's 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 City; and WHEREAS, the City Council further understands that no amendments, changes, or alterations shall be made to the Form or any other documentation until the City Council of the City of Auburn passes a new Resolution naming a new authorized individual; and WHEREAS, the City Council further understands and acknowledges that it has received, read, and understood the prospectus as provided by the Office of the State Treasurer; and WHEREAS, the City Council further understands and 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 NOW THEREFORE, AND IN CONFORMITY WITH THE RECITALS ABOVE SET FORTH, THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON HEREBY RESOLVES as follows: Resolution No. 5046 February 11, 2014 Page 2 of 4 1. That the City Council does hereby authorize the contribution and withdrawal of City of Auburn monies in the LGIP in the manner prescribed by law, rule, and prospectus 2. That the City Council has approved the Local Government Investment Pool Transaction Authorization Form as completed by City of Auburn Finance Director Shelley Coleman, a copy of which form is attached hereto, marked as Exhibit "A" and incorporated herein by reference and does hereby attest to its accuracy. 3 That the City Council designates City of Auburn Finance Director Shelley Coleman as its "authorized individual" in connection with the LGIP, which authorized individual is empowered to authorize 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 City of Auburn. 4 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 5. That the Mayor is authorized to execute this Resolution on behalf of the City of Auburn. 6 That with the passage of this Resolution and authorization of the Mayor's signature hereon, the City Council attests that it is duly authorized and empowered to enter into an agreement with the LGIP, and to direct the contribution or withdrawal of City monies, and to delegate the authority to make adjustments to the incorporated transactional forms, to the individuals designated herein ------------------------ Resolution No. 5046 February 11, 2014 Page 3 of 4 7 That the Mayor is authorized to implement such administrative procedures as may be necessary to carry out the directives of this legislation, including causing a certified copy of this Resolution to be filed a with the Office of the State Treasurer. 8 That this Resolution shall take effect and be in full force upon passage and signatures hereon. r ,, n Dated and Signed this �}� Y day of r V d,,, r 2014 CITY OF AUBURN NANCY B116S, MAYOR ATTEST Danielle E. Daskam, City Clerk ATTE S M. Daniel B Hei , City Attorne ------------------------ Resolution No. 5046 February 11, 2014 Page 4 of 4 ExExhibit "A" LOCAL GOVERNMENTINVESTMENT POOL 11 b TRANSACTION AUTHORIZATION FORM Please fill out this form completely,including any existing information, as this form will rin a the previous form. Name of Entity City of Auburn Mailing Address: Fax Number 253-876-1920 City of Auburn 25 West Main Street E-mail Contact: scoleman@aubumwa.gov Auburn, WA 98001 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. Q YES,please fax statements 0 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: Key Bank Branch Location. Auburn, WA 98001 Bank Routing Number 125000574 Account Number 471431003238 Account Name: City of Auburn Persons authorized to make deposits and withdrawals for the entity listed above. Name Title Signature Telephone Number I.SIlelley Coleman Finance Director 253-804-5019 '_.Stacy Karabotsos Payroll Specialist 253-804-5024 3.Stefame I larper Payroll Specialist 253-576-1955 4 Ronda Stella Payroll tic AP Supervisor 253-R04-5018 By signature below,I certify I am authorized to represent the institution/agency for the purpose of this transaction. Authorized Si nalum) Tide Dole Shelle)Coleman scoleman@auburmva.gov 253-804-5019 Prial Authorized Si nature E-.nilAddress (Telephone number Any changes to these instructions must be submitted in writing to the Office of the State Treasurer. Please mail 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 Signanire of Notary SEAL OR STAMP Ttped or printed name ofNotary Notary Public In and for the State of Wash. My appointment expires: