HomeMy WebLinkAbout950073.tiffRESOLUTION
RE: APPROVE DESIGNATION OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS 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), CRS, 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..."
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."
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
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, Kersey
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RE: DEPOSITORIES FOR FUNDS
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Independent Bank, Platteville
Union Colony Bank
Commercial Federal Bank
Firstbank of Greeley
Citizens State Bank, Keenesburg
First Security Bank, Ft. Lupton
Platteville State Bank
Valley Bank, Frederick
WHEREAS, pursuant to Part 7 of Article 75 of Title 24, CRS, 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:
Colorado Surplus Asset Fund Trust (CSafe)
Colorado Public Funds Investment Trust (Colofit)
Colorado Diversified Trust
Colorado Local Government Liquid Asset Trust (Colotrust)
Colorado Statewide Asset Trust (Cswat)
WHEREAS, pursuant to Part 6 of Article 75 of Title 24, CRS., the County Treasurer may
invest the funds in his custody or possession in those securities set forth in Section 24-75-601(1).
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the above and foregoing banks and savings and loan associations 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, CRS, as amended.
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, CRS, as
amended.
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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), CRS, as amended, which have a maturity date of two years
or less from the date of purchase or, if authorized by the Board, for such period in excess of two
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.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 23rd day of January, A.D., 1995.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COhORAD,
ATTEST:
Weld County Clerk to the Board
BY:
Deputy Clerk'to the Board
APP: ! ED AS TO FORM
George E. Baxter
Constance L. Harbert
W. Ff. Webster
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