HomeMy WebLinkAbout20050039.tiff 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
Cache Bank, Greeley
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 Savings Bank
First Security Bank, Ft. Lupton
Independent Bank, Platteville
Key Bank of Colorado
New Frontier Bank
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RE: DEPOSITORIES FOR FUNDS
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New West Bank
Platteville State Bank
Union Colony Bank
U.S. Bank
Valley Bank, Frederick
Valley Bank, Hudson
Vectra Bank, 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:
Colorado Surplus Asset Fund Trust (CSafe)
Colorado Diversified Trust (CDT)
Colorado Local Government Liquid Asset Trust (Colotrust)
Government Asset Pool (GAP)
Piper Jaffray Money Management Account— First American Funds, Inc.
Merrill Lynch Funds for Institutional Series — Money Management Account
Fidelity Institutional Money Market Funds Treasury Only Portfolio, Class I
Federated Government Obligations Fund
AIM Liquid Assets Fund
Cash Management Programs, Inc.
A.G. Edward's Centennial Government Trust, 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, Donald Mueller,
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 as discussed herein dated January 23,
1995, August 30, 1995, January 15, 1996, and February 19, 2003.
2005-0039
TR0023
RE: DEPOSITORIES FOR FUNDS
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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.
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 5th day of January, A.D., 2005.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
1861 _�� ,,. . _ �� William H. J e, Chairman
`(r lerk to the Board
�® y�,�► M. J. eile, Pro-Tem
eputy Cler to the Board er
David E. Long r^-
R ED AS
Robe D. Massdde
ounty Att ey - , ng!/
Glenn Vaad
Date of signature: (fri/S
2005-0039
TR0023
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