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RESOLUTION 1038
SERIES OF 1987
TITLE: RESOLUTION SETTING FORTH INVESTMENT POLICY AND GUIDELINES
FOR INVESTMENT OF CITY FUNDS BY THE CITY TREASURER.
WHEREAS, under the City fharter of the City of Wheat
Ridge, Colorado, the City Treasurer Is vested as the custodian of
all publ ic funds belonging to the City and;
WHEREAS, the City Council of the City of Wheat Ridge
wishes to provide the City Treasurer with adequate pol icy and
guidelines to be followed so that the City Council need not be
required to approve s~eclflc transactions.
NOW, THEREFORE, BE IT RESOLVED, that the City Treasurer
shal I be responsible for investment of City funds within the
following guidel ines hereby establ lshed and that the City
Treasurer is hereby directed to carry out the Investment
procedures as follows:
1. Determine cash flow requirements from al I sources
available <Department Heads, Purchasing Division,
8 u d get 0 f f ice r, Co u n c i I I'i i nut e s , e t c. l ;
2. Determine amount of Idle cash and length of time
money can be invested to best fit City needs;
3. Request interest quotes for each investnent from the
Gntire list belJW. The results of such request for
quotes and also which quote was accepted shal I be
forwarded to Counci I, as information, at the next
reGular meeting.
4.
Award
there
based
Investments according to highest quote and,
is a tie ~uote, preference of det0rmination
upon --
if
al local bank or savings and loan with City limits,
and,
bl distribution of funds made to the institution
with the lesser amount currently on deposit.
5. AI I funds of the City to be deposited with an
el igible publ ic depository, as required by C.R.S.
11-47-105, 1973.
PAGE TriO
RE SOL UT ION rlO. 1038
ESTABLISHED LIST OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS.
Citywide Bank of Applewood
First Bank of Wheat Ridge
Jefferson Bank & Trust
Lakeside National Bank
Capitol Federal Savings & Loan
Columbia Savings & Loan
Empire Savings & Loan
Key Savings & Loan
DONE AND RESOLVED by a vote of
June , 19~.
ATTEST:
World Savings and Loan
S i I ver State Sav i ngs & loa n
Bank Western Savings & Loan
Central Bank and Trust
First National Bank of Denver
Sun Savings & Loan
International Bank - VI.R.
Sllverado Banking S & l
8--0
8th
day of
on this
~
V~-'A~/
Frank St i tes, iiayor