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Home My WebLink About20070842 RESOLUTION RE: APPROVE DESIGNATION OF BANKS, SAVINGS BANKS, AND PUBLIC ASSET POOLS AS DEPOSITORIES FOR WELD COUNTY FUNDS WHEREAS,the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS,Section 30-10-708(1), C.R.S., as amended, states as follows: "In all counties of this state,the county treasurer shall deposit all the funds and moneys of whatever kind that come into his possession by virtue of his office, in his name as such treasurer, in one or more state banks,national banks having their principal offices in this state, or, in compliance with the provisions of article 47 of title 11, CRS, savings and loan associations having their principal offices in this state which have theretofore been approved and designated by written resolution duly adopted by a majority vote of the board of county commissioners, which shall be entered into its minutes...", and WHEREAS, Section 11-4(1)of the Home Rule Charter for Weld County,Colorado,states as follows: "The County Treasurer shall,with prudence,deposit available funds in accordance with the statutes of the State of Colorado giving preference to Weld County financial institutions", and WHEREAS, the Board of County Commissioners of Weld County, Colorado, deems it in the best interest of Weld County to designate the following banks and savings and loan associations as depositories for the funds of Weld County: The Bank of Colorado, Front Range Bank of Choice Cache Bank, Greeley Chase Bank Centennial Bank of the West The Colorado Community Bank Colorado East Bank and Trust of Keenesburg Colorado National Bank Commercial Federal Bank Community First Bank, Fargo Equitable Savings and Loan, Greeley Farmers Bank, Ault Firstbank of Greeley, Colorado First National Bank, Johnstown First National Bank, Windsor First Northern Bank Savings Bank First Security Bank, Ft. Lupton 2007-0842 TR0024 r'c' ri, PL, /1/ 110_17— ©47 l3-07 DESIGNATION OF BANKS, SAVINGS BANKS, AND PUBLIC ASSET POOLS AS DEPOSITORIES FOR WELD COUNTY FUNDS PAGE 2 Independent Bank, Platteville Key Bank of Colorado New Frontier Bank New West Bank Platteville State Bank Union Colony Bank U.S. Bank Valley Bank, Frederick Valley Bank, Hudson VectraBank, Kersey/Zion Bank Weld County Bank Wells Fargo Bank, Colorado, and WHEREAS, pursuant to Part 7 of Article 75 of Title 24, C.R.S.,Weld County may pool any moneys in its treasury which are not immediately required to be disbursed, with the same such moneys in the treasury of other Colorado political subdivisions in order to take advantage of short-term investments and maximize net interest earnings, and WHEREAS,the Board of County Commissioners of Weld County,Colorado,deems it in the best interest of Weld County to designate the following Colorado public asset pools and money market accounts as depositories for the funds of Weld County: CSAFE ColoTrust, and WHEREAS, pursuant to Part 6 of Article 75 of Title 24, C.R.S.,the County Treasurer may invest the funds in his custody or possession in those securities set forth in Section 24-75-601.1(1), C.R.S. NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the above and foregoing banks and savings banks be, and hereby are, designated as depositories for the funds of Weld County. BE IT FURTHER RESOLVED by the Board that the County Treasurer, John L. Lefebvre, Jr., be,and hereby is, authorized and instructed to secure such deposits according to law as stated in Section 30-10-708, C.R.S., as amended, and that this Resolution shall supercede previous Resolutions of the Board regarding the same subject. BE IT FURTHER RESOLVED by the Board that the County Treasurer be, and hereby is, authorized to pool such county funds as are not immediately required to be disbursed in the above and foregoing Colorado public asset pools pursuant to Part 7 of Article 75 of Title 24, C.R.S., as amended. 2007-0842 TR0024 DESIGNATION OF BANKS, SAVINGS BANKS, AND PUBLIC ASSET POOLS AS DEPOSITORIES FOR WELD COUNTY FUNDS PAGE 3 BE IT FURTHER RESOLVED by the Board that the County Treasurer be, and hereby is, authorized to invest such county funds as are not immediately required to be disbursed in securities as set forth in Section 24-75-601.1(1),C.R.S.,as amended,which have a maturity date of five years or less from the date of purchase, or if authorized by the Board, for such period in excess of five years. The County Treasurer shall hold all such securities until their date of maturity,at which time he is hereby authorized to redeem them and deposit or reinvest the proceeds in accordance with the foregoing resolution, or he may sell such securities prior to their date of maturity at which time he is thereby authorized to redeem them and deposit or reinvest the proceeds in accordance with the provisions of this Resolution. The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 28th day of March, A.D., 2007. �� BOA OF COUNTY COMMISSIONERS Eisa EL OUNTY, CO OR O ATTEST:Mk/2 41 ;1 1861 O vid E. Long, Chair Weld County Clerk to the *Jr_ ate, . 4,3 • l William F�:/J ' P .-Tem BY: cly Dep Cler 'to the Boaru� Wil ly�m1F. atcia� fjPPROV AS TO IIJJV�g��.►..��XX.. ..CC��\\�k- Robert D. Masden ounty Attorney G l ouglas demacher Date of signature: 1"//i 7/07 2007-0842 TR0024 Hello