HomeMy WebLinkAbout970111.tiffRESOLUTION
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
Key Bank of Colorado
Bank One, Greeley
The Colorado Community Bank
Colorado National Bank
The Eaton Bank
Farmers Bank
First Choice Bank
First National Bank, Greeley
First National Bank, Johnstown
First Northern Savings Bank
Norwest Bank
Independent Bank, Greeley
Independent Bank, Kersey
Independent Bank, Platteville
Union Colony Bank
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RE: DEPOSITORIES FOR FUNDS
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Commercial Federal Bank
Firstbank of Greeley
Citizens State Bank, Keenesburg
First Security Bank, Ft. Lupton
Platteville State Bank
Valley Bank, Frederick, 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 as
depositories for the funds of Weld County:
Fund
Colorado Surplus Asset Fund Trust (CSafe)
Colorado Public Funds Investment Trust (Colofit)
Colorado Diversified Trust (CDT)
Colorado Local Government Liquid Asset Trust (Colotrust)
Colorado Statewide Asset Trust (Cswat)
Government Asset Pool (GAP)
Federated Investor's Treasury Obligations Fund and Government Obligations
as invested through Colo -First
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, Arthur L. Willis,
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 any
previous Resolutions of the Board regarding the same subject, as discussed herein.
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.
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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 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 20th day of January, A.D., 1997.
D AS TO FO
oount'y Attorney
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
eeoo rrg: e Baxter, Chairman
stance L. Harbeyt; Pyp7Tem
Dale, K. Hall
L./xi a /ce,t, ./i«C f` L
Barbara J. Kirkmeyer
4,
W. H.Webster "
n
k (
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The Colorado Community Bank
"The Bank that brings compelilic'e banking lu you
January 3, 1997
Mr. Art Willis
Weld County Treasurer
P. O. Box 458
Greeley, CO 80632
Dear Mr. Willis,
P.O. Box 67
Johnstown, CO 80534
(970) 587-2160
I appreciate your taking the time to visit with me this morning. As you suggested, I am
sending this letter to let you know about our new bank. Colorado Community Bank in
Johnstown is a full service bank serving the Johnstown/Milliken market. Our Johnstown
branch opened for business on October 7, 1996.
Colorado Community Bank is a branch of First National Bank of Yuma in Yuma,
Colorado. First National Bank of Yuma is a wholly owned subsidiary of Washington
Investment Company, a multi -bank holding company.
We would appreciate an opportunity to bid on your deposits and are interested in Weld
County bond issues for our investment portfolio.
Thank you for your consideration.
Sincerely,
/7
Kyle W. Cox
Executive Vice President
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