HomeMy Public PortalAboutRES-CC-1999-05RESOLUTION 05-99
A RESOLUTION GIVING AUTHORITY TO THE CITY TREASURER TO MAKE INVESTMENT
DECISIONS AT AUTHORIZED BANKING INSTITUTIONS.
Whereas, the City of Moab desires to give the City Treasurer authority to transfer funds at banking
institutions with which the City does business, in order to fully utilize investment opportunities;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY OF MOAB THE FOLLOWING:
1. That the City Treasurer is authorized to take any and all such actions in the name of and on behalf of
the City of Moab in order to utilize investment opportunities available at banking institutions approved by
the Utah Money Management Act. Such actions shall include but not be limited to setting up Sweep
accounts, zero balance accounts, automatic transfer of funds accounts and similar deposit and investment
arrangements, entering into transactions similar to the foregoing, and performing such actions as may be
required in connection with any of the foregoing;
2. That any agreements, instruments or documents executed and delivered to any banking institution
approved by the Utah Money Management Act by the City Treasurer shall be binding and enforceable
obligations of Moab City, enforceable in accordance with their respective terms.
PASSED, ADOPTED, APPROVED AND EFFECTIVE this 9th day of February 1999 in open Council at
Moab, Utah.
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Attest
Rachel Ellison
City Recorder
Approved: aVez, e,
arla R. Hancock
Mayor