HomeMy WebLinkAbout20013104.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:
Bank One, Greeley
Cache Bank, Greeley
Centennial Bank of the West
Colorado Community Bank
Colorado East Bank and Trust of Keenesburg
Colorado National Bank
Commercial Federal Bank
Community First National Bank, Greeley
Equitable Savings and Loan, Greeley
Farmers Bank
First Choice Bank
First National Bank, Johnstown
First National Bank, Windsor
First Northern Savings Bank
First Security Bank, Ft. Lupton
Firstbank of Greeley
Independent Bank, Greeley
Independent Bank, Platteville
2001-3104
' Tit', fie, ,C e4 TR0020
RE: DEPOSITORIES FOR FUNDS
PAGE 2
Key Bank of Colorado
New Frontier Bank
Platteville State Bank
The Bank of Colorado, Front Range
Union Colony Bank
U.S. Bank
Valley Bank, Frederick
Vectra Bank, Kersey
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:
A.G. Edward's Centennial Government Trust, and
AIM Liquid Assets Fund
Cash Management Programs, Inc.
Colorado Diversified Trust (CDT)
Colorado Local Government Liquid Asset Trust (Colotrust)
Colorado Surplus Asset Fund Trust (CSafe)
Federated Government Obligations Fund
Fidelity Institutional Money Market Funds Treasury Only Portfolio, Class I
Government Asset Pool (GAP)
Merrill Lynch Funds for Institutional Series — Money Management Account
Piper Jaffray Money Management Account— First American Funds, Inc.
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 Acting County Treasurer, Kenneth
Sigley, 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 this Board regarding the same subject as discussed herein dated
January 23, 1995, August 30, 1995, January 15, 1996, and August 29, 2001.
2001-3104
TR0020
RE: DEPOSITORIES FOR FUNDS
PAGE 3
BE IT FURTHER RESOLVED by the Board that the Acting 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 Acting 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 Acting 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 31st day of October, A.D., 2001.
BOARD OF COUNTY COMMISSIONERS
WELD CO NTY, COLORADO
I��/ate
ATTEST: LG��!,, �', , a/
• M. J. eile, Ch irman
;
Weld County Clerk to th oa
1861 0 .E! a it G
Glenn Vaad, Pr
BY: .ii/,i.. '. �( _
Deputy Clerk to the Bo � / \ ' i/-i- --f,
♦ I Willia . Jerke
APPROVED AS F M: c ,
%7 v ng
t
ounty Attoey
Robert D. Masden
11(Date of signature: 7
2001-3104
TR0020
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