HomeMy WebLinkAboutResolution-1995-1511
CITY OF WHEAT RIDGE, COLORADO
RESOLUTION NO 1511
TITLE:
A RESOLUTION AUTHORIZING THE CITY OF WHEAT RIDGE TO JOIN
WITH OTHER LOCAL GOVERNMENT ENTITIES AS A P ARTICIP ANT IN
THE COLORADO LOCAL GOVERNMENT LIQUID ASSET TRUST
(COLOTRUST) IN ORDER TO POOL FUNDS FOR INVESTMENTS
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 earning; and
WHEREAS, COLOTRUST is a common law trust formed under the laws ofthe
State of Colorado in accordance with the provisions of Part 7 and Part 7 of Article 75 of Title 24
and Articles 105 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 adopted Resolution 974 Series of
1986 on March 17, 1986 approving its participation in COLOTRUST, and the City wishes to
amend Resolution 974 to Name William Powell as alternate designee for the purpose of eligibility
for service on the COLOTRUST Board of DIrectors,
NOW, THEREFORE, BE IT RESOL YED by the Wheat Ridge City Council, as
follows.
Section 1 Resolution No 974, Series 1986, is hereby amended by the addition of
a new Paragraph 6, to read as follows.
William Powell, as Budget!Finance Assistant is hereby appointed an official
designee of the City to act in the unavailability of James Malone with respect to
COLOTRUST matters, and including eligibility for election to the Board of
Trustees.
DONE AND RESOLVED this 18th day of December, 1995
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DAN WILDE, MAYOR
ATTEST
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WANDA SANG, CITY CLERK