003-18 - Resolution - Investment of City of Port Orchard Monies in the Local Government Investment PoolRESOLUTION NO. 003-18
A RESOLUTION OF THE CITY OF PORT ORCHARD, WASHINGTON, AUTHORIZING
INVESTMENT OF CITY OF PORT ORCHARD MONIES IN THE LOCAL GOVERNMENT
INVESTMENT POOL
WHEREAS, pursuant to Chapter 294, Laws of 1986, the Legislature created a trust fund to
be known as the public funds investment account (commonly referred to as the Local
Government Investment Pool (LG IP)) for the contribution and withdrawal of money by an
authorized governmental entity for purposes of investment by the Office of the State Treasurer;
and
WHEREAS, from time to time it may be advantageous to the authorized governmental
entity, CITY OF PORT ORCHARD, the "governmental entity", to contribute funds available for
investment in the LGIP; and
WHEREAS, the investment strategy for the LGIP is set forth in its policies and procedures;
and
!WHEREAS, any contributions or withdrawals to or from the LGIP made on behalf of the
governmental entity shall be first duly authorized by the CITY COUNCIL, the "governing body" or
any designee of the governing body pursuant to this resolution, or a subsequent resolution; and
WHEREAS the governmental entity will cause to be filed a certified copy of said resolution
with the Office of the State Treasurer; and
WHEREAS the governing body and any designee appointed by the governing body with
authority to contribute or withdraw funds of the governmental entity has received and read a
copy of the prospectus and understands the risks and limitations of investing in the LGIP; and
WHEREAS, the governing body attests by the signature of its members that it is duly
authorized and empowered to enter into this agreement, to direct the contribution or
withdrawal of governmental entity monies, and to delegate certain authority to make
adjustments to the incorporated transactional forms, to the individuals designated herein; now,
therefore,
THE CITY COUNCIL OF THE CITY OF PORT ORCHARD, WASHINGTON, HEREBY RESOLVES AS
FOLLOWS:
THAT: The governing body does hereby authorize the contribution and withdrawal of
governmental entity monies in the LGIP in the manner prescribed by law, rule, and
prospectus.
THAT: The governing body has approved the Local Government Investment Pool
Transaction Authorization Form (Form) as completed by the CITY OF PORT ORCHARD and
Resolution No. 003-18
Page 2 of 2
incorporates said form into this resolution by reference (Exhibit A) and does hereby attest
to its accuracy.
THAT: The governmental entity designates NOAH CROCKER, FINANCE DIRECTOR the
"authorized individual" to authorize all amendments, changes, or alterations to the Form
or any other documentation including the designation of other individuals to make
contributions and withdrawals on behalf of the governmental entity.
THAT: This delegation ends upon the written notice, by any method set forth in the
prospectus, of the governing body that the authorized individual has been terminated or
that his or her delegation has been revoked. The Office of the State Treasurer will rely
solely on the governing body to provide notice of such revocation and is entitled to rely
on the authorized individual's instructions until such time as said notice has been
provided.
THAT: The Form as incorporated into this resolution (Exhibit A) or hereafter amended by
delegated authority, or any other documentation signed or otherwise approved by the
authorized individual shall remain in effect after revocation of the authorized individual's
delegated authority, except to the extent that the authorized individual whose delegation
has been terminated shall not be permitted to make further withdrawals or contributions
to the LGIP on behalf of the governmental entity. No amendments, changes, or alterations
shall be made to the Form or any other documentation until the entity passes a new
resolution naming a new authorized individual.
THAT: The governing body acknowledges that it has received, read, and understood the
prospectus as provided by the Office of the State Treasurer. In addition, the governing
body agrees that a copy of the prospectus will be provided to any person delegated or
otherwise authorized to make contributions or withdrawals into or out of the LGIP and
that said individuals will be required to read the prospectus prior to making any
withdrawals or contributions or any further withdrawals or contributions if authorizations
are already in place.
PASSED by the City Council of the City of Port Orchard, SIGNED by the Mayor and attested
by the City Clerk in authentication of such passage this 9th day of January 2018.
Robert Putaansuu, Mayor 0 RT
'■ SEAL i !
ATTEST:
Brandy Rinearson,, City Clerk
LOCAL CjOVERNMENT INVESTMENT FOOL
Transaction Authorization Form
IjAlliUIl XI
Please fill out this form completely, including any existing information, as this form will ireplaeel the previous form.
Mailing Address:
City of Port Orchard
216 Prospect Street
Port Orchard, WA 98366
Name of Entity: City of Port Orchard
Fax Number: 360-895-9029
E-mail Contact: finance@cityofportorchard.us
Do you wish to have your monthly LGIP statements faxed to the number listed above?
Please note - if you choose to receive statements via fax, you will not receive another copy via U.S. mail.
I I No, please send statements via U.S. mailI I YES, please fax statements
Bank account where funds will be wired when a withdrawal is requested.
(Note: Funds will not be transferred to any account other than that listed).
Bank Name: Kitsap Bank
Branch Location: Port Orchard
Bank Routing Number:
Account Number:
Account Name: City of Port Orchard
Persons authorized to make deposits and withdrawals for the entity listed above.
Signature Telephone NumberTitleName
Noah D Crocker 360-876-7023Finance Director
<3 &
Assistant Finance
Director u 360-876-7021Rebecca J Nichols
360-874-5523Accounting Assist!Heidi U Draper
m
By signature below, I certify I am authorized to represent the institution/agency for the purpose of this transaction.
/U.l/7. 6a^\01/09/2018Finance Director
(Title)(Date)(Authorized Signature)
360-876-7023Noah D Crocker ncrocker@cityofportorchard.us
(Telephone number)(Print Authorized Signature)(E-mail Address)
Any changes to these instructions must be submitted in writing to the Office of the State Treasurer. Please mail
this form to the address listed below:
Office of the State Treasurer
Local Government Investment Pool
Date Received://
Fund Number:
(for LGIP use only)PO Box 40200
Olympia, WA 98504-0200
I $(§<£%% \ P^v'G<b//o|
State of Washington )
County of 1ss
Signed or attested before me by H 0 UrotillV
Dated this ^ day of . V nVA/vu
i.
,20]X.
Signature of Notary
3 NJitHolx*\2eV)jpSEAL OR STAMP LLA.
Typed or printed name of Notary
Notary Public in and for the State of Wash.
My appointment expires: