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TC Res. No. 1990-33RESOLUTION NO. 90-33 SERIES OF 1990 A RESOLUTION ALLOWING QUALIFIED POOLED INVESTMENTS. A RESOLUTION AUTHORIZING THE TOWN OF AVON, COLORADO TO JOIN WITH OTHER LOCAL GOVERNMENT ENTITIES AS A PARTICIPANT IN THE COLORADO LOCAL GOVERNMENT LIQUID ASSET TRUST (COLOTRUST) IN ORDER TO POOL FUNDS FOR INVESTMENT. WHEREAS, pursuant to Part 7 of Article 75 of Title 24 of the Colorado Revised Statutes, it is lawful for any county, city and county, city, town, school district or special district (a Local Government Entity) to pool any moneys in its treasury, which are not immediately required to be disbursed with the same such moneys in the treasury of any other Local Government Entity in order to take advantage of short-term investments and maximize net interest earnings; and WHEREAS, COLOTRUST is a common law trust formed under the laws of the State of Colorado in accordance with the provisions of Part 6 and Part 7 of Article 75 of Title 24 and Articles 10.5 and 47 of Title II of the Colorado Revised Statutes regarding the investing, pooling for investment and protection of public funds; and WHEREAS, the Town of Avon desires to participate in COLOTRUST and therefore by a majority vote of the Town Council has passed the following resolution: NOW, THEREFORE, it is hereby RESOLVED as follows: 1. The Town of Avon hereby approves and adopts, and thereby joins as a Participant with other Local Government Entities pursuant to Part 7 of Article 75 and Title 24 of the Colorado Revised Statutes, that certain Indenture of Trust entitled the Colorado Local Government Liquid Asset Trust (COLOTRUST) dated as of January 1, 1985 as amended from time to time, the terms of which are incorporated herein by this reference and a copy of which is attached; and 2. The Finance Director, who is the local government official empowered to invest the funds in the Town of Avon's treasury, is hereby designated the "Treasurer", as that term is defined in the Indenture of Trust, and as such is hereby designated our official representative to COLOTRUST and shall serve as a member of the Board of Supervisors of COLOTRUST and is hereby authorized and directed to execute the Indenture of Trust and such other documents as are required; and 3. The COLOTRUST Investment Program contains two investment portfolios: COLOTRUST A comprised of U.S. Treasury securities and COLOTRUST B comprised of all investments permitted by law and authorized by the COLOTRUST Board of Trustees. The "Treasurer" designated in Section 2 above is hereby authorized to invest in COLOTRUST A only. 4. The Secretary of COLOTRUST, Mr. Russell H. Pierson, or his successor in function, is hereby designated as the official custodian of such funds as are deposited in COLOTRUST by the Town of Avon during such time or times as funds may be on deposit with COLOTRUST. C • The undersigned certify that the Town of Avon has enacted this resolution. The undersigned affirm that we have received and read the Trust's Information Statement and agree to be bound by its terms. The undersigned agree that the certifications, instructions, and authorizations contained in this Trust Registration Form will remain in effect until the Trust receives written notice of change. I- ~)W - i4an2ft- Nottin am David Garton Mavor Councilmember oria t: Tatricia Town Cle 'MichAl Bennett Colorado A Government Liquid Asset INITIAL TRUST REGISTRATION FORM Trust d yo0weed assistance in Aftg out this form, 1125 Seventeenth Street, Suite 1800 Tmat mpreeentsfim ale evailaft ft" m 800-228-5435 Denver, Colorado 80202 291-5354 In the Denver Area 800-228-5435 NOV r 9 6 9n i i J LOCAL GOVERNMENT NAME: Town of Avon ACCOUNT NAME: Town of Avon ATTENTION: Liz Adams TELEPHONE: 949-4280 ADDRESS: PO Box 975 TAX I.D. NO.: 84-0771088 CITY: Avon STATE: C O zIP: 81620 TYPE OF GOVERNMENT: IN City or town ❑ Special District ❑ School District ❑ County ❑ Other (Specify) IF INITIAL INVESTMENT IS ENCLOSED, PLEASE INDICATE AMOUNT S (Payable to: Colorado Local Government Liquid Asset Trust) The Colorado Local Government Liquid Asset Trust is hereby authorized to honor any written, telephone or telegraphic request, believed to be authentic, for withdrawal of funds from the Trust The withdrawal proceeds can be sent only to the commercial bank indicated below or mailed to the name and address In which the account is registered, unless changed by written instructions to the Trust BANK ACCOUNT TITLE: Town of Avon General Fund ACCOUNT NUMBER: 650 0021 BANK NAME: F1rStBank of Avon BANK ADDRESS: PO Box 5270 CITY: Avon STATE: co _Zip. 81620 DIVIDENDS: U Are to be left in our account with the Trust and reinvested ❑ Are to be paid in cash CHECKWRITING: E3 Number of signatures required on each check IN We do not wish to have the chaekwritirrg feature. ❑ We would like (increments of 20) Checks. Complete only if checkwriting option selected: SIGNER Signature Printed Name Signature Printed Name Signature Printed Name Signature Printed Name COSIGNER (IF REQUIRED) COLOTRUST CO RADO LOCAL GOVERNMENT LIQUID ASSET TRUST MODEL RESOLUTION A Resolution authorizing to join with other Local Government Entities as (COLOTRUST) in order to pool funds for investment. a Partic- :.t in the Colorado Local Government Liquid Asset Trust WHEREAS, pursuant to Part 7 of Article 75 of Title 24 of the Colorado Revised Statutes, it is lawful for any county, city and county, city, town, school district, or special district (a Local Government Entity) to pool any moneys in its treasury, which are not immediately required to be disbursed, with the same sucn,, moneys in the treasury of any other Local Government Entity in order to take advantage of short-term investments and maximize net interest earnings; and WHEREAS, COLOTRUST is a common law trust formed under the laws of the State of Colorado in accordance with the provisions of Part 6 and Part 7 of Article 75 of Title 24 and Articles 10.5 and 47 of Title II of the Colorado Revised Statutes regarding the investing, pooling for investment and protection of public funds; and WHEREAS, the above referenced Local Government Entity desires to participate in COLOTRUST and therefore by a majority vote of its governing body has passed the followir. resolution: NOW, THEREFORE, it is hereby RESOLVED as follows: 1. This Local Government Entity, , hereby approves and adopts, and thereby joins as a Participant with other Local Government Entities pursuant to Part 7 of Article 75 and Title 24 of the Colorado Revised Statutes, that certain Indenture of Trust entitled the Colorado Local Government Liquid Asset Trust (COLOTRUST) dated as of January 1, 1985 as amended from time to time, the terms of which are incorporated herein by this reference and a copy of which shall be filed with the minutes of the meeting at which this Resolution was adopted; and 2. , who is the local government official impowered to invest the funds in this Local Government Entity's treasury, is hereby designated the "Treasurer", as that term is defined in the Indenture of Trust, and as such is hereby designated our official representative to COLOTRUST and shall serve as a member of the Board of Supervisors of COLOTRUST and is hereby authorized and directed to execute the Indenture of Trust and such other documents as are required; and 3. The COLOTRUST Investment Program contains two investment portfolios: COLOTRUST A comprised of U.S. Treasury securities and COLOTRUST B comprised of all investments permitted by law and authorized by the COLOTRUST Board of Trustees. The "Treasurer" designated in Section 2 above is hereby authorized to invest in COLOTRUST A 0, COLOTRUST B O, or both D. (Please check one.) 4. The Secretary of COLOTRUST, Mr. Russell H. Pierson, or his successor in function, is hereby designated as the official custodian of such funds as are deposited in COLOTRUST by this Local Government Entity during such time or times as funds may be on deposit with COLOTRUST. The undersigned certify that Name of Local Government has enacted: P~Another form of Resolution, a copy of which is enclosed, and 90 this resolution is currently in effect. The undersigned affirm that Uwe have received and read the Trusts Information Statement and agree to be bound by its terms. The undersigned agree that the certifications, instructions, and euthoraations contained in this Trust Registration Forth will remain in effect until the Trust receives written notice of change. Please Print Name Please Print Nave Please Print Nana Please Print Name Please Pant Nave Sg ubme Sgrehae SW ahue Title Ttlle Ttlle Title rAle (seat) Secretary or Clerk 0 a TOWN OF AVON CASH DEPOSIT/INVESTMENT POLICY The Town of Avon shall manage and invest its cash with the objectives, listed below: Safety-Deposits not to exceed insurance level of $100,000 per institution with an even distribution between banks, savings and loans and Treasury Bills Liquidity Yields (Rate) Cash Management is defined as the process of managing monies in order to ensure maximum cash availability and maximum market yield on short term investment of available funds. The time period concerned in this process is the time from receipt of funds until they are dispersed and have cleared the commercial bank. The Town shall maintain a comprehensive cash management program which includes collection of accounts receivable, vendor payments in accordance with invoice terms and prudent investment of excess funds. ACCEPTABLE INSTRUMENTS Certificates of Deposit collateralized or fully insured by FDIC and FSLIC or by government or government agency securities, U.S. Treasury obligations, or COLOTRUST. The investment maturity schedule shall correspond with the Town's projected cash flow needs. Remaining maturities on investments purchased shall be no longer than 180 days. RESPONSIBILITY The Town Manager/Director of Finance is the Town's investment officer and is responsible for implementing cash management policy and authorizing investments. In the absence of Town Manager/Director of Finance, Finance Officer is authorized to make investment decisions. QUALIFYING INSTITUTIONS Financial institutions (Federally insured banks and savings and loan associations) with and through whom the Town invests shall be located in the State of Colorado. a • Town of Avon Cash Deposit/Investment Policy Page 2 All financial institutions holding Town deposits will be required to provide at least annually, certification of eligibility and compliance under the Public Depository Protection Act of 1975. Broker/dealers through whom the Town purchases U.S. government securities may include only those dealers reporting to the Market Reports Division of the Federal Reserve Bank of New York, also known as the "primary government securities dealers" or the First Bank of Avon. Financial institutions and broker/dealers with whom the Town wishes to do business shall provide the eligible collateral certification and/or financial data requested by the Town. DEPOSITORIES The Town may make such arrangement for the custody and safekeeping of investment securities as will facilitate prompt delivery upon maturity or in the even of sale. For all intents and purposes, the First Bank of Avon is the custodian bank for the Town's investment securities.