HomeMy WebLinkAboutResolution-1986-0974
COLOTRUST
COLORADO LOCAL GOVERNMENT
LIQUID ASSET TRUST
RESOLUTION NO. 974
Series of 1986
TITLE: A resolution authorizing the City of Wheat Ridge to join
with other Local Government Entities as a Participant in
the Colorado Local Government Liquid Asset Trust
(COLOTRUST) in order to pool funds for investment.
WHEREAS, pursuant to Part 7 of Article 75 of Title 24 of
the Colorado Revised Statutes, it is lawful for any county, city,
town, school district or special district (a Local Government
Entity) to pool any moneys in its treasury, which are not
immediately required to be disbursed, with the same moneys in the
treasury of any other Local Government Entity in order to take
advantage of short-term investments and maximize net interest
earnings; and
WHEREAS, COLOTRUST is a common law trust formed under the
laws of the State of Colorado in accordance with the provisions
of Part 6 and Part 7 of Article 75 of Title 24 and Articles 10.5
and 47 of Title II of the Colorado Revised Statutes regarding the
investing, pooling for investment and protection of public funds;
and
WHEREAS, the City of Wheat Ridge, Colorado desires to
participate in COLOTRUST and therefore by a majority vote of its
governing body has passed the following resolution:
NOW, THEREFORE, it is hereby RESOLVED as follows:
1. The City of Wheat Ridge, Colorado, hereby approves and
adopts, and thereby joins as a participant with other local
government entities pursuant to Part 7 of Article 75 of Title 24
of the Colorado Revised Statutes, that certain indenture of trust
entitled the Colorado Local Government Liquid Asset Trust
(COLOTRUST) dated as of January 1, 1985 as amended from time to
time, the terms of which are incorporated herein by this
reference and a copy of which shall be filed with the minutes of
the meeting at which this resolution was adopted; and
2. James O. Malone, City Treasurer, who is the local government
official impowered to invest the funds in this local government
entity's treasury, is hereby designated the "Treasurer", as that
term is defined in the Indenture of Trust, and as such is hereby
designated our official representative to COLOTRUST and shall
serve as a member of the Board of Supervisors of COLOTRUST and
is hereby authorized and directed to execute the Indenture of
Trust and such other documents as are required; and
Page two
Resolution No. 974
3. The "Treasurer" designated in Section 2 above is hereby
authorized to invest, from time to time the moneys in this local
goverment entity's treasury, which are not immediately required
to be disbursed, in COLOTRUST by purchasing shares in COLOTRUST
from time to time with available funds, and to redeem some or all
of those shares from time to time as funds are needed for other
purposes.
4. The Secretary of COLOTRUST, Mr. Russell H. Pierson, or his
successor in function, is hereby designated as the official
custodian of such funds as are deposited in COLOTRUST by this
local government entity during such time or times as funds may be
on deposit with COLOTRUST.
The undersigned certify that the City of Wheat Ridge, Colorado
has enacted this resolution and that Mr. James O. Malone, City
Treasurer has full authority and capacity to open an account with
the Trust, and to invest funds in and withdraw from the Trust.
The undersigned affirm that we have received and read the Trust's
Information Statement and agree to be bound by its terms.
The undersigned agree that the certification, instructions, and
authorizations contained in this Trust Registration Form will
remain in effect until the Trust receives written notice of
change.
DONE and resolved on this 17th day of
March, 1986. _.. /l",/,,/;t:1;:;._
Frank Sti t'es, Mayor
;'
erk