HomeMy WebLinkAboutResolution No. 2003-043 Authorizing Investment Agreement OCn
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• �0 RESOLUTION NO.2003-43
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A RESOLUTION AUTHORIZING Cily Of Edina
INVESTMENT AGREEMENT
BE IT RESOLVED, that Gordon Hughes and/or John Wallin who is/are Officer's
of the City of Edina, is/are authorized to enter into agreements or commitments to open,
maintain and close accounts with banks, brokers and other financial institutions with
which it does business, and are authorized to sign on individual bank and broker
accounts and such Officers are further authorized to cancel such authority,and
BE IT FURTHER RESOLVED, that John Wallin and/or Peggy Gibbs is/are
authorized to purchase or sell any and all securities as authorized by the City of Edina s
Investment Policy (as attached), and that the Officer is authorized on behalf of the City of
Edina to sign any necessary documentation: to give written or oral instructions with
respect to said transactions: to obligate the City for the carrying out of any contract,
agreement, or transaction;to pay by check or wire; and to take any and all such actions in
the name of and on behalf of said City that would be considered desirable and necessary
with respect to said transaction; and
• BE IT FURTHER RESOLVED that the bank, broker or other financial institution
may rely upon the actions of the Officer as the City of Edina representative that any and
all securities purchased are legal and authorized investments under the City's applicable
policies and/or statutory requirements. The city of Edina represents that it will provide
these applicable policies and/or statutory requirements, and that it will notify the bank,
broker or other financial institution of any changes made;and
BE IT FURTHER RESOLVED that the Clerk of the City of Edina is authorized and
directed to certify, under the seal of the City of Edina, to you a true copy of these
resolutions and specimen signatures of each and every person empowered by these
resolutions;and
I FURTHER CERTIFY that said resolutions shall continue in full force and effect,
until revoked or modified by the Edina City Council and written notice is received by the
bank, broker or other financial institution, such notice setting forth a resolution adopted
to effect said revocation or modification and authorizing the new signatory and/or
person authorized to obligate the City of Edina securities transaction.
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the
seal of the City of Edina this first day of July,2003,by order of the Edina City Council.
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City Hall (952) 927-8861
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EDINA,MINNESOTA 55424-1394 TDD(952)826-0379
• AUTHORIZATION:
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John Yealfin, Director of Finance Gord n H hes, ager
Peggy ' , Assistant inane Director n Hughes, i anager
ATTEST:
City Clerk J Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
I, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby
certify that the attached and foregoing Resolution was duly adopted by the Edina City
Council at its Regular Meeting of July 1, 2003, and as recorded in the Minutes of said
Regular Meeting.
WITNESS my hand and seal of said City this day of , 20_.
City Clerk
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