TC Res. No. 1997-04RESOLUTION NO. 97-04
SERIES OF 1997
A RESOLUTION AUTHORIZING THE INVESTMENT
IN FEDERATED MONEY MARKET FUNDS
WHEREAS, the Town of Avon desires to diversify,its investments, preserve its
capital, maintain liquidity, and maximize yield; and
WHEREAS, pursuant to the provisions of C.R.S. Section 24-75-601.1(k),,as
amended, it is lawful for any local government entity (including cities, towns, school
district, special districts or counties) to invest in any money market fund that is registered
as an investment company under the Federal "Investment Company Act of 1940", as
amended; and
WHEREAS, Federated Securities is registered as an investment company under the
Federal "Investment Company Act of 1940" and its money market funds are triple-A rated
portfolios.
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE TOWN COUNCIL
OF THE TOWN OF AVON:
1) The Town of Avon hereby approves participation in and investment in
Federated Money Market Funds; and
2) The Finance Director, who is the local government official empowered to invest,
the funds in the Town's treasury, or his successor, is hereby designated our
official representative to Federated Securities and is hereby authorized and
directed to execute the Enrollment Form for Telephone Redemption and to take
such other action as may be necessary to be a shareholder in the Federated
Money Market Funds; and.
3) The Finance Director, as designated in Section 2 above, is, hereby authorized to
invest from time to time the moneys held in the Town's treasury, which are not
immediately required to be disbursed, in Federated Money Market Funds and to
request redemption from the Town's balance in Federated Money Market Funds
from time to time as moneys are needed.
ADOPTED AND PASSED, this 14ffi day of January, 1997
TOWN OF AVON
By:
__~ack Fawcett
Mayor
10 YM l.lerK