D-1421-99 Invest Public FundsAN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA,
AUTHORIZING AND APPROVING THE ENTRY INTO AN INTERLOCAL AGREEMENT
FOR THE INVESTMENT OF PUBLIC FUNDS
WHEREAS, IC 36-1-7 (the "Interlocal Law") authorizes political subdivisions to enter into
interlocal cooperation agreements for the joint exercise of powers; and
WHEREAS, the City of Carmel, Indiana (the "City"), has public funds which are eligible for
investment pursuant to the provisions of IC 5-13, and regularly exercises its power to invest such
moneys pursuant to the provisions thereof; and
WHEREAS, the Interlocal Law requires that any interlocal cooperation agreement be approved
and authorized by the fiscal body of such participating political subdivision; and
WHEREAS, the Common Council of the City of Carmel, Indiana (the "Council"), is the fiscal
body and the legislative body of the City and the City desires to enter into an interlocal agreement for
the joint exercise of the power to invest public funds.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of Carreel,
Indiana, as follows:
1. The Council does hereby authorize and approve the entry by the City into the
Interlocal Agreement dated as of October 1, 1996 (the "Agreement"), constituting an interlocal
cooperation agreement by and among the Indiana participants that enter into the Interlocal Agreement
(the "Participants"), and an agreement for services by and among the Participants, Bank One,
Indianapolis, N.A., as Custodian, and MBIA Municipal Investors Service Corporation, a copy of which
has been presented to this Council and is attached hereto.
2. The Clerk-Treasurer is the investing officer (as defined in IC 5-13-9) of the City (the
"Investing Officer") and is hereby designated as the representative to the Board of Representatives
described and set forth in the Agreement.
3. The execution and delivery of the Participation Certificate, in the form attached as
Exhibit D to the Agreement (as modified and completed for execution by the City), by the Mayor of the
City are hereby authorized and approved to evidence the entry into the Agreement by the City as a
Participant.
4. The Investing Officer is authorized to return the executed Participation Certificate to
MBIA Municipal Investors Service Corporation and to take any such other action as may be necessary to
effectuate the participation by the City in the Agreement, and is further authorized to take such other
actions as may be necessary or desirable for the investment of funds of the City pursuant to the
Agreement.
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5. This Ordinance shall become effective upon passage and upon compliance with the
procedures required by law.
,1999, by a vote and ~, nays.
day of ~-~-~~t/
,, '/"2_ .coM COUNCmFOR
es Brai~ard eliding ' ' '
~ irby . '
ATL,_)~
Diana L. Cordray, IA~easurer
Presented by me to the Mayor of the City of Carmel, Indiana the
at the hour of/0" ;.5 6) , q . m.
day of ~.~t~~ , 1999,
Diana L. Cordray, I k urer
Approved by me, the Mayor of the City of Carreel, Indiana, this
at the hour of ( ~)'- .% Q ~ . m..
day of ~¢Ci~'t~/T/, 1999,
,
rainard Mayor
ATTEST:
Diana L. Cordray, I~easurer
Ordinance No.
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