HomeMy WebLinkAboutResolution CC-05-21-18-01 Deposit Agreement SPONSOR: Councilor
RESOLUTION NO. CC 05-21-18-01
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 Cannel, 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 fmance
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 by the Common Council of the City of Cannel,
Indiana,that:
Section 1. The foregoing Recitals are incorporated herein by this reference.
Section 2. 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 fmance, but have been
designated by the state board of fmance as a depository for state deposits.
Section 3. 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 fmance as a depository for state deposits.
Section 4. 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 Indiana Code § 5-13-9-5, as the
same may be amended from time to time.
Section 5. This Resolution shall take effect on the date of its passage by the Common Council.
Section 6. This Resolution, and the authority granted herein, shall expire on the date that is one
(1)year from the date on which this Resolution takes effect.
Resolution CC 05-21-18-01
Page One of Two Pages
This Resolution was prepared by Jon A.Oberlander,Cannel Assistant City Attorney,on 4/27/18 at 11:48 am.No subsequent revision to this
Resolution has been reviewed by Mr.Oberlander for legal sufficiency or otherwise.
S:\Resolutions-CCC\2018\CC 05-21-18-01 Certificate of Deposit Authorization 2018 Resolution clean.doc
SPONSOR: Councilor Kimball
A/�ov SO RESOLVED, by the Common Co cil of the City of Cannel, Indiana, this day of
I , 2018, by a vote of 7 ayes and ri nays.
\
COMMO FOR THE CITY OF CARMEL
v
Kev' . Rider, President Sue V am
Jeff rr , ice-President thony n
J C
Laura D. Campbell H. Bruce Kimball
R ald E. er
ATT ST:
'stine S. Pauley, erk-Treasurer
k Presented by me to the Mayor of the City of Carmel, i this Z2 day f
2018, at0. tf5 AM.
C me S. Pauley, C 4-Treasurer
A Approved by me, Mayor of the City of Cannel, Indiana, this 23 day of
/V t 2018, at q /gM.
ames Brainard, Mayor
KITES :
Chris ' . Pauley, Cle -Treasurer
Resolution CC 05-21-18-01
Page Two of Two Pages
This Resolution was prepared by Jon A.Oberlander,Cannel Assistant City Attorney,on 4/27/18 at 11:48 a.m.No subsequent revision to this
Resolution has been reviewed by Mr.Oberlander for legal sufficiency or otherwise.
S:\Resolutions-CCC\2018\CC 05-21-18-01 Certificate of Deposit Authorization 2018 Resolution clean.doc