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Home My WebLink AboutResolution 61-2000 � RESOLUTION NO. 61-00 A RESOLUTION AUTHORIZING THE APPROVAL OF AND PARTICIPATION IN A JOINT POWERS AGREEMENT AND DECLARATION OF TRUST FOR THE SOUTH DAKOTA PUBLIC FUNDS INVESTMENT TRUST,AUTHORIZING INVESTMENTS THROUGH THE FIXED RATE ACCOUNT OF THE TRUST AND AUTHORIZING THE TRUST TO DESIGNATE AND NAME DEPOSITORIES. WHEREAS, South Dakota Law Chapters 1-24 permits political subdivisions to make efficient use of their powers by enabling them to provide joint services with other Public Agencies and to cooperate in other ways of mutual advantage, and to exercise and enjoy jointly any powers, privileges or authority exercised or capable of being exercised by one Public Agency of this state for the joint or cooperative action; and WHEREAS,the Participants are political subdivisions being duly organized and existing under and by virtue of the laws and constitution of the State of South Dakota and have approved the Joint Powers Agreement and Declaration of Trust and thereby have established the South Dakota Public Funds Investment Trust as of November 1, 1991; and WHEREAS, this Governing Body desires to adopt and enter into the Joint Powers Agreement and Declaration of Trust, and it is in the best interest of this Governing Body to participate in the South Dakota Public Funds Investment Trust for the purpose of joint investment of moneys with other Public Agencies to enhance investment earnings to each; and WHEREAS,this Governing Body deems it to be advisable for this Public Agency to make use, from time to time, of the Fixed Rate Account available to Participants of the Trust; NOW,THEREFORE,BE IT RESOLVED: Section 1. The Joint Powers Agreement and Declaration of Trust is approved and adopted. This Public Agency shall join with the other public agencies in accordance with the Joint Powers Agreement and Declaration of Trust as amended, (the"Declaration of Trust") which are on file with the recording officer. The authorized officials of this Public Agency are directed and authorized to take such actions and execute any and all such documents as may be deemed necessary and appropriate to effect the entry of this Public Agency into the Declaration of Trust and adoption thereof by this Public Agency and to carry out the intent and purpose of this resolution. Section 2. This Public Agency is hereby authorized to invest its available moneys from time to time and to withdraw such moneys from time to time in accordance with the provisions of the Declaration of Trust and the Fixed Rate Account of the Trust. Payment for any investments made within the Fixed Rate Account is authorized and shall be made from the Public Agency's specified Trust Account. Interest and principal payments shall be credited to the Public Agency's designated Trust Account. Such Fixed . ' VI. Authorized Signatures . The following are Authorized Ogicials(as designated in Resolution-Form A)of this Public Agency to effectu- ate the investment and withdrawal of moneys of this Public Agency from time to time in accordance with the Joint Poweis Ag�ement and Declaration of Tius� NameofParticipant City of Brookings Michael Williams, Cit� Manac�er �� ✓��'��9�t4/��D Print or Type Name of Authorized Official Tide Signature(Authoriz.ed Official) �u�- Yuzhen Liu Accounting S�,nProiSo= ��j1yL �'I 9/ �y�`�� Print or'Iype Name ofAuthorizea ut3icial �— Signature(Authorized Official) Date Print orType Name ofAuthoriz.ed Official TiUe Signature(Authorized Official) Date Mail this form along with Form A and Form A Certification to: South Dakota Public Funds Investinent Trust(FI'T) do\/oyageur Asset Management 200 North Phillips,Suite 203 Sioux Falls,South Dakota 57102 MODEL FORM C Tiust Administrator. This letter will authorize the wire tx-ansfer of monies from the Govemment Cash Reserve account or accounts of(insert name of Participant)to pay for securities purchased by the Participant to be issued in its name under the opuonal Fixed Rate Account Sincerely, (Si of Authorized Official) (Ti e� (Datecl) Note:If the PaRicipant wishes to use[his service,this model letter should be tyPed on the Pacticipant's letterhead,signed by one of the Authorized O�icials designated in Section 2 of the Model Resolution(FORM A)and sent along with the Registration Form(FORM B)to the address below Mail this form along with Form A and Form B to: South Dakota Public Funds Investment Trust(Ff1� c10 Uoyageur Asset Management 200 North Phillips,Suite 203 Sioux Falls,South Dakota 57102 page 4 , +FORM A CERTIFTCATION State of South Dakota ) )SS: County of Brookings ) I,the undersigned of C i ty o f B ro o k i n g s State of South Dakota, do hereby cextify that the attached is a mae and complete copy of the portion of the records of the Governing g�y of the named Public Agency,and the same is tiue and complete copy of the action taken by the Goveming B�y of the Public Agency with respect to said matter at the meeting held on the date indicated in the attachment,which pro- ceeclings remaui ui full force and effect,and have not been amended or rescinded in any way. I further certify that the individuals named her�in were on the date thereof and lawfiilly possessed of their resp�Ve offices as indicated therein,that no vacancy existed except as may be stated in said proceedmgs,and that no contro- versy or litigation is pending,prayed or threatened involving the mcorporation,orgaruzation,existence or bound- aries of the Public Agency or the nght of the individuaJs nameci herein as officers to their respective posirions. Y WITNESS my hand hereto affixed this ,� day of �x20D0 B�' Michael Williams Cit Signature /��. / Typed Name-Tide • y Manager APPLICATION FORM FORM B I. Participant: Name of Participant: C i t� o f B ro o k i n c�s Address of Participant P_O. B o x 2 7 0, B ro o k i n�s, S D 5 7 0 0 6-0 2 7 0 Federal Identification Number. �6- 6 0 0 0 0 6 9 ContactPexsonandTide: Michael Williams. Cit� Manager TelephoneNumber: 605/ 692-6281 fax: 692-6907 e-mail : If initial inveshnent is enclosed,please indicate amount$ II. New Account Infom�arion: Authorization is herebyg�ven to Voyageur Asset Man ement,as Tnist Advisor/Administrator,to open the fol- lowing South Dakota Public Funds Investment Tmst(�Account(s). Name to appear on Tivst Account(e.g.General Fund,etc.)* CT i►t�� Name&Address of Local Depository for funds�ansfer. !�!e w�G 'F,NI,.�/'q� S ci✓%r+� S �A,y.� loz� (,-tM 5.�. � t!�' AV2 ., Br�e��h9�s . y1� s7oo6 Local Depository Account Number. 3��7 6/9 Checking Savings WCstitt�L YK.�'� (For your protection,only one depository account may be per TiUst account) Depository's ABA Routing Numbec Z��T 7�� 3� (This number can be obtained from bottom of blank check or by calling your depository.) III. Deposit/W'ithdrawal Information andAuthorization Authorization is hereby given to Voyageur Asset Management,as FTI"s Tiust Advisor/Adminishator,to honor any request believed by it to be authenhc for invesanent to and/or withdrawal from the Tnist Moneys will be uansferred only upon telephone,written or personal notice from an Authorized Official of the Public Agency, Upon such notification,Voyageur Asset Management will initiate debit and credit entries to the local depository account(s)indicated herein and the local depository(ies)named are authorized to debit and credit the same to such account(s).Ti-ansfer shall be made by Automated Clearinghouse Transfer(ACI�,if available,unless oth- erwise directed by the Participant.There is no charge to Participants for ACH t�ansfers. IV. Joint Poweis A�reement and Declaratian of Tiust It is hereby cemfied that the Participant has received a copy of the Joint Powers Agreement and Declaration of Tiust and agrees to be bound by the terms of such documents. V. Effectiveness of Application Form The information,cernfications and authorizations set forth on this ap�lication shall remain in full force and effect until the Trust Advisor/Aclmuustrator receives written notificatton of a change. page 3 RESOLUTION FORM A nate 9��<�U V A RESOLUITON AUTHORIZIIVG T�-IE APPROVAL OF AND PARTICIEATION IN A JOINT POWERS AGREE- MENT AND DECLARATION OF TRUST FOR THE SOUTH DAKOTA PUBLIC FUNDS INVESTMENT TRUST,AUTHORIaIVG INVFSTMENTS THROUGH THE F�D RATE ACCOUNT OF THE TRUST AND AUTHORIZING T'HE TRUST TO DESIGNATE AND NAME DEPOSITORIES. WI-IEREAS,South Dakota I.aw Chapters 1-24permits polidcal subdivisions to make effcient use of their powers by enablin�them to pro- vide joint services with other Public Agencies and to cooperate in other ways of mutual advantage,and to exercise and enjoy jomdy any pow- e�s,pnvileges or authority exercised or capable of being exercised by one Public Agency of this state for the joint or cooperative act�on;and WHEREAS,the Participants are political subdivisions being duly organized and existing under and by virtue of the laws and constiturion of the State of South Dakota and have appmved the Joint Powers Ageement and Declaration of Trust and thereby have established the South Dakota Public Funds Invesmient Ttust as of November 1,1991;and WI�REAS,this Goveming Body desires to adopt and enter into the Joint Powe�Agreement and Declaration of Trust,and it is in the best interest of this Goveming Body to participate in the South Dakota Public Funds Investrnent Tmst for the purpose of joint invesmient of mon- eys with other Public Agencies to enhance investment eamings to each;and WHERF.AS,this Goveming Body deems it to be advisable for this Public Agency to make use,from tirr�e to time,of the Fixed Rate Account available to Participants of the Tnut; NOW,THEREFORE,BE TI'RESOLVED: Section 1.The Joint Powers Agreement and Declaration of Tnut is approved and adopted.This Public Agency shall J'oin with the other public a�encies in accordance with the Joint Powecs Ageement and Decla�ahon of Tn�st as arnended,(the"Declacation of TiusP�which are on file wrth the recording officer.The authorized officials of this Public Agency are directed and authoriz�ed to take such actions and execute any and all such documents as may be deemed necessary and appropriate to effect the entry of this Public Agency into the Declaration of Trust and adoption thereof by this Public Agency and to cacry out the mtent and purpose of this resolution. Secbon 2 Tlvs Public A�ency is hereby authorized to invest its available moneys fi�om time to time and to withdraw such moneys fr�om time to time in accordance wit�i ihe provisions of the Declaration of Trust and the Fixed Rate Accoont of the Tmst Payment for any investrnenis made within die Fixed Rate Account is authorized and shall be made from the Public Agency'sspecified Trust Account Interest and principa1 payments shall be credited to the Public Agency's designated TiUst Account Such Fixed Rate Account invest- ments shall be held by the TiUst Custodtan as custodian for the account of the Public Agency. The following office�s and o�ciaLs of this Public Agency and their respective successo�s in office each are hereby designated as"Authorized OfficiaLs"with full power and authority to effeca�ate the mvesmient and withd�awal of moneys with rhis Public Agency from rime to time in accordance with the Joint Powe�s Agreement and Declaration of Trust ' PrintedName Michael Williams Tide Cit� Manac�er � Printed Name_Yuzhen Liu Tide_Acconnti_ng�pervi sor Printed Name Tide The Tnist shall be advised of any changes in Authorized Officials in accordance with procedures established by ihe Tmst. Section 3.The Trustees of the South Dakota Public Funds Investment Tnist are hereby des�as having official custody of this Public Agency's moneys which are invested in accordar►ce with the Joint Powecs Agreerr�ent and laration of Tmst and any moneys invested in accordance with the Trust's Fixed Rate Account Section 4.The Tiust is authorized to designate and name depositories,to execute and file doc;uments,and to take such actions as may be nec- essary to purchase and make Qayment,sell,secure,or take payment of principal and interest Certificates of Deposit must be puc�hased only fmm financial institutions designated by the Tnist which ac�approved deposrtories as prescribed by South Dakota Law. Section 5.Authorization is hereby given for members and officials of this Public Agency to serve as Tmstees of the South Dakota Public Funds Invesanent Tnist from tirne to tune if selected as such pucsuant to the provisions of the I�clatation of TrusG Secbon 6.U�less othenvise expressly defined herein,words that are capitalized in the Resolution shall have meanings defined in the Joint Powe�s Ag�eement and Declaration of Trust Pas.sed and approved this_l/� �y of��b�— ,}�2 0,0 0 Name of Public Agency City of Brookings Signature �n��n � -�U✓ TypedName-Tide�chael Williams, City Manager AT'I�'ST:- , Signature Typed Name-Tide i il Herriott Ma or page 2 City of Brookings, South Dakota � � sou DAKOTA PUBLIC s . , Il S 1`�TT . , , , TRUST � D � � � � � o , . O � � `�, " ) � �.��-� �, ,. , .�. � G ��.�, •�•1 � � 1' ` �,�. ��v Sponsored by the: ��NosqNVES�� South Dakota.Municipal League South Dakota.Association of County Commissioners Associated School Boards of South Dakota For Investment Information Call: Toll Free (800) 281-0373 Any municipality,county school district or other elig�'blepolitical subdivision which is a member of the South I7alcota Municipal League,South Dakota Association of County Coininissioneis or Associated School Boards of South Dakota may open an accoun� FORM A(Model Resolution) The Participant must adopt a resolution in the form as provided by the Form A Model Resolution.The adopted Resolution must be cemfied using the Form A Certificate pmvided.The Resolution authorizes an entity to become a Participant of the TiUst and adopts the Joint Powers Agreement and Declaration of Tiust It also designates the officials of the Participant who are authorized to effect tiansac- dons with the Tiust Form A must be com�leted with the names and tifles of autho- rized officials,the signatures of the presiduig officer and recor�ding officer. Form A and the Certification are to be sent with the application,Form B,to FTI;do Voyageur Asset Management,at the address given below. FORM B(Application Fonn) This form must be completecl by an authorized official.Fo�n B provides all applic- able infom�ation about the Participant and the local depository.After an applicahon is received by FIT;an account will be established.Additional accounts may be opened using photocopies of Form B. FORM C(Fixed Rate Account Authorization) If a Participant wishes to set up a Fixed Rate Account,Form C must be sent along with Form B to FIT:Form C authorizes FIT to wire monies from the Govemment Cash Reserve Account to pay for securities purchasecl by the Participant in the Fixed Rate Account For more infoimation regaiding the opening of an account,please call FIT toll free at 1-800-281-0373. South Dakota Public Funds Inveshnent Trust(FTI') c10 UoyageurAsset Management 200 North Phillips,Suite 203 Sioux Falls,South Dakota 57102 FORM A CERTIFICATION State of South Dakota ) ) SS: County of Brookings ) I,the undersigned of the City of Brookings, State of South Dakota, do,hereby certify that the attached is a true and complete copy of the portion of the records of the Governing Body of the named Public Agency, and the same is a true and complete copy of the action taken by the Governing Body of the Public Agency with respect to said matter at the meeting held on the date indicated in the attachment, which proceedings remain in full force and effect, and have not been amended or rescinded in any way. I further certify that the individuals named herein were on the date thereof and lawfully possessed of their respective offices as indicated therein,that no vacancy existed except as may be stated in said proceedings, and that no controversy or litigation is pending, prayed or threatened involving the incorporation, organization, existence or boundaries of the Public Agency or the right of the individuals named herein as officers to their � respective positions. WITNESS my hand hereto affixe�A ' �o `''day of September, 2000. o° "+�"'e � � � ��+ :=o s �GrM . � ari Dunn, City Clerk ` Rate Account investments sha11 be held by the Trust Custodian as custodian for the account of the Public Agency. The following officers and officials of this Public Agency and their respective successors in office each are hereby designated as"Authorized Officials" with full power and authority to effectuate the investment and withdrawal of moneys with this Public Agency from time to time in accordance with the Joint Powers Agreement and Declaration of Trust. Michael Williams, City Manager Yuzhen Liu, Accounting Manager The Trust sha11 be advised of any changes in Authorized Officials in accordance with procedures established by the Trust. Section 3. The Trustees of the South Dakota Public Funds Investment Trust are hereby designated as having official custody of this Public Agency's moneys which are invested in accordance with the Joint Powers Agreement and Declaration of Trust and any moneys invested in accordance with the Trust's Fixed Rate Account. Section 4. The Trust is authorized to designate and name depositories, to execute and file documents, and to take such actions as may be necessary to purchase and make payment, sell, secure, or take payment of principal and interest. Certificates of Deposit must be purchased only from financial institutions designated by the Trust which are approved depositories as prescribed by South Dakota Law. Section 5. Authorization is hereby given for members and officials of this Public Agency to serve as Trustees of the South Dakota Public Funds Investment Trust from time to time if selected as such pursuant to the provisions of the Declazation of Trust. Section 6. Unless otherwise expressly defined herein, words that are capitalized in the Resolution shall have meanings defined in the Joint Powers Agreement and Declaration of Trust. Passed and approved this 11�'day of September, 2000. c 0 �,T�oF Virgil H rriott, ayor 4�:8'p i � �%�o N '�� 22 nQ � �' �� r � ari Dunn, City Clerk