HomeMy Public PortalAboutR2120 R E S O L U T I O N NO. 2120
WHEREAS, The Metropolitan St. Louis Sewer District
periodically receives financial instruments such as stocks and
bonds, etc. usually through bankruptcy proceedings, in settlement
of delinquent sewer service charge accounts, and
WHEREAS, pursuant to Section 7.020(2) of the Plan of
the District, the Secretary-Treasurer is authorized to deposit all
funds paid to the District, and
WHEREAS, there is no current provision regarding the
liquidation of the aforesaid financial instruments and the deposit
of the funds therefrom as received by the District,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, THAT the Secretary-
Treasurer is hereby authorized to liquidate any financial
instruments as received by the District, and to deposit the funds
from all such liquidations into such depositaries as are
designated by the Board of Trustees, pursuant to Section 7.020(2)
of the Plan of the District.
BE IT FURTHER RESOLVED, that the Secretary-Treasurer
seek the least costly means for effecting the aforesaid
liquidations.
The foregoing Resolution was adopted December 14, 1993.