Loading...
R3210RESOLUTION NO. 3210 WHEREAS, the adoption of Resolution No. 3210 will authorize the Secretary- Treasurer of the Metropolitan St. Louis Sewer District to allow the District's external investment manager to utilize its own approved commercial paper issuer list and approved broker/dealer list provided the each list fully complies with the criteria in the District’s Investment Policy as described in Ordinance No. 13806. WHEREAS, the investment manager is better equipped and has a better working knowledge of credit review processes to make a determination of the financial strength of an issuer and of broker/dealers. WHEREAS, Ordinance 13806, repealing Ordinance No. 13623, and Ordinance No. 12010 and Resolution No. 3009, provide for the selection of Approved Depositary Banks and Approved Securities Dealers, the making and terms of time and demand deposits and Authorized Investments, the form of security for safekeeping of District funds, the approval of Authorized District Representatives for purposes of signing of checks and making of transfers of District funds, the furnishing of surety bonds for Authorized District Representatives, and reports of the Secretary-Treasurer to the Board of Trustees of the District with respect to the deposit and investment of District funds. NOW, THEREFORE, BE IT RESOLVED, that the Secretary-Treasurer of the Metropolitan St. Louis Sewer District is hereby authorized to allow the District's external investment manager to utilize its own approved commercial paper issue list and approved broker/dealer list, provided each list fully complies with the criteria in the District Investment Policy as described in Ordinance No. 13806. The foregoing Ordinance was adopted on May 14, 2015 by the following vote – Ayes – A. Mandel, M. Yates, J. Faul, R. Berry, and V. Patton. Nays – None Secretary-Treasurer