HomeMy WebLinkAbout961520.tiff RESOLUTION
RE: DESIGNATE TREASURY ONLY INSTITUTIONAL DAILY MONEY FUND, THROUGH
FIDELITY INVESTMENTS, AS DEPOSITORY FOR WELD COUNTY FUNDS AND
AUTHORIZE WELD COUNTY TREASURER TO INVEST WELD COUNTY FUNDS IN
SAID MONEY MARKET FUND
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, pursuant to § 24-75-601.1(1)(k), C.R.S., Weld County may invest any
moneys in its treasury, which are not immediately required to be disbursed, in money market
funds as long as such funds are registered as investment companies under the federal
"Investment Company Act of 1940," as amended, and comply with all of the remaining
requirements set forth in § 24-75-601.1(1)(k), C.R.S., 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 now deems it in the best interest of Weld County to designate
the Treasury Only Institutional Daily Money Fund, through Fidelity Investments, 82 Devonshire
Street, Boston, Massachusetts 02109, as an authorized depository for funds of Weld County,
and
WHEREAS, Arthur Willis, Weld County Treasurer, advises the Board that the Treasury
Only Institutional Daily Money Fund, managed by Fidelity Investments, is registered as an
investment company under the federal "Investment Company Act of 1940," as amended, and
complies with all of the remaining requirements set forth in § 24-75-601.1(1)(k), C.R.S., and
WHEREAS, the Board also deems it in the best interest of Weld County to authorize the
Weld County Treasurer to invest funds of Weld County in said fund.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Treasury Only Institutional Daily Money Fund, through Fidelity
Investments, be, and hereby is, designated as an authorized depository for the funds of Weld
County, and that the Weld County Treasurer be, and hereby is, authorized to invest such
County funds as are not immediately required to be disbursed in said fund.
961520
TR0016
RE: DESIGNATE DEPOSITORY FOR FUNDS AND AUTHORIZE TREASURER TO INVEST
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 4th day of September, A.D., 1996.
BOARD OF COUNTY COMMISSIONERS
�•��� WELD COUNTY, COLO DO
4 Elle . ida47 /42Alloca__ /
Barba a J. Kirkmeyer, C, it
n
1861 my Clerk to the Board
.� orge . Baxter, P -Tem
���j Deputy Cler` o the Board
Dale K. Hall
AP ED AS TO ORM: ,A ,i�� e4e.. i_,1'
Constance L. Harbert
n Attor Lib, (4 7.) l'y'e , 2 1
1 W. H. Nebster
961520
TR0016
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