HomeMy WebLinkAboutResolution CC-05-16-16-02 Certificates of DepositSPONSOR: Ronald E. Carter
RESOLUTION CC -05-16-16-02
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL,
INDIANA
AUTHORIZING THE INVESTMENT OF PUBLIC FUNDS
PURSUANT TO IC 5-13-9-5
Synopsis: This resolution authorizes the solicitation of quotes for, and investment in,
certificates of deposit.
WHEREAS, Indiana Code § 5-13-9-5 empowers the fiscal body of the City of Carmel,
Indiana, to authorize by resolution the City's investing officer to solicit quotes for certificates of
deposit from, and to invest in certificates of deposit of, depositories that have not been
designated by the local board of finance but have been designated by the state board of finance
as a depository for state deposits; and
WHEREAS, it is in the public interest to now authorize such solicitation and investment.
.NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
1. The City's investing officer is hereby authorized to solicit quotes for certificates of
deposit from depositories that have not been designated by the local board of finance, but
have been designated by the state board of finance, as a depository for state deposits.
2. The City's investing officer is hereby authorized to invest in certificates of deposit of
depositories that have not been designated by the local board of finance, but have been
designated by the state board of finance, as a depository for state deposits.
3. The City's investing officer shall solicit and invest in certificates of deposit pursuant to
the authority granted herein by following the procedures set forth in I.C. § 5-13-9-5, as
the same may be amended from time to time.
4. This Resolution shall take effect on the date of its passage by the Common Council.
5. This Resolution, and the authority granted herein, shall expire on the date that is two (2)
years from the date on which this Resolution takes effect.
This Resolution was prepared by Douglas Haney, Corporation Counsel, on 04/27/16 at 3:13 p.m. No subsequent
revision to this Resolution has been reviewed by Mr. Haney for legal sufficiency or otherwise.
ZACouncil Meetings\5.16.16 Council Meeting\Resolution CC- 05-16-16-02.docx
SO RESOLVED by the Common Council of the City of Carmel, Indiana
2016, by a vote of -7 _Layes and nays.
COMMON COUNCIL FOR THE CITY OF CARMEL
Presiding Officer
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Laura D. Campbell
Roliald E. Carter
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SOF F nkam.
H. Bruce Kimball
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Kevin D. Rider
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Carol Schleif
this L��dday of
Presented by me to the Mayor of the City of Carmel, Indiana this �— day of
2016, at
AY
Christine S. Pa ey, Clerk-Trea r r
This Resolution was prepared by Douglas Haney, Corporation Counsel, on 04/27/16 at 3:13 p.m. No subsequent
revision to this Resolution has been reviewed by Mr. Haney for legal sufficiency or otherwise.
Z:\Council Meetings\5.16.16 Council Meeting\Resolution CC- 05-16-16-02.docx
Resolution CC -
Page Two of Three
Approved by me, Mayor of the City of Carmel, Indiana, this Z( day of
/VA i�o1, 2016, at f34.
ames Brainard, Mayor
Resolution CC-
Page Three of Three
This Resolution was prepared by Douglas Haney, Corporation Counsel, on 04/27/16 at 3:13 p.m. No subsequent
revision to this Resolution has been reviewed by Mr. Haney for legal sufficiency or otherwise.
Z:\Council Meetings\5.16.16 Council Meeting\Resolution CC- 05-16-16-02.docx