HomeMy WebLinkAboutResolution-1989-1132
RESOLUTION NO. 1132
SERIES OF 1989
TITLE: RESOLUTION SETTING FORTH INVESTMENT POLICY AND GUIDELINES
FOR INVESTMENT OF CITY FUNDS BY THE CITY TREASURER.
WHEREAS, under the City Charter of the City of Wheat
Ridge, Colorado, the City Treasurer is vested as the custodian of
all public funds belonging to the City; and
WHEREAS, the City Council of the City of Wheat Ridge
wishes to provide the 'City Treasurer with adequate policy and
guidelines to be followed so that the City Council need not be
required to approve specific transactions.
NOW, THEREFORE, BE IT RESOLVED, that the City Treasurer
shall be responsbile for investment of City funds within the
fOllowing guidelines hereby established and that the City
Treasurer is hereby directed to carry out the investment
procedures as follows:
1. Determine cash flow requirements from all sources
available (Department Heads, Purchasing Division,
Budget Officer, Council Minutes, etc.);
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 investment from the
list below. The results of such request for quotes
and also which quote was accepted shall be forwarded
to the City Council, as information, at Lhe next
regular meetingj
4. Award investments according to the highest quote and,
if there is a tie quote, preference of determination
shall be based upon:
(a) bank or savings and loan located within the City
limits, and,
(b) distribution of funds made to the institution
with the lesser amount currently on deposit.
5. All funds of the City shall be deposited with an
eligible public depository, as required by C.R.S.
11-47-105, 1973.
PAGE TWO
RESOLUTION NO. 1132
ESTABLISHED LIST OF ELIGIBLE PUBLIC FUND DEPOSITORIES:
Bank Western Savings & Loan
Capitol Federal Savings & Loan
Central Bank & Trust
Citywide Bank of Applewood
Colorado Local Government Liquid Asset Trust (COLOTRUST)
Columbia Savings & Loan
Commercial Federal Savings & Loan
First Bank of Wheat Ridge
First National Bank of Denver
International Bank of Wheat Ridge
Jefferson County Colorado SurplUS Funds Trust (JEFFTRUST)
Jefferson Bank & Trust
Lakeside National Bank
Sun Savings & Loan
United Bank of Denver
World Savings & Loan
DONE AND RESOLVED this
9th
January
day of
~~
Dan W1.lde, Mayor
ATTEST:
Clerk
, 1989.