Chapter 4.10
LOCAL GOVERNMENT INVESTMENT POOL
Sections:
4.10.010 Investment in repurchase agreements.
4.10.030 Officers authorized to order deposit or withdrawal.
4.10.040 Deposit and withdrawal authorized – Generally.
4.10.050 Form incorporated by reference.
4.10.060 Authorized individual designated.
4.10.070 Revocation of delegation.
4.10.080 Effect of form after revocation.
4.10.090 Acknowledgment of prospectus.
4.10.010 Investment in repurchase agreements.
In addition to the currently authorized investment vehicles of the district, the proceeds from the issuance of the 1997 bonds, the principal and interest account of the 1997 bonds, the reserve account and all construction funds for ULID Nos. 5 and 6 are authorized to be invested in repurchase agreements. [Res. 1997-6-10.]
4.10.020 Deposit and withdrawal authorized – Bond proceeds, reserve accounts, ULID construction funds.
The district does hereby authorize the deposit and withdrawal of the proceeds from the issuance of the 1997 bonds, the principal and interest account of the 1997 bonds, the reserve account and all construction funds for ULID Nos. 5 and 6 in the Local Government Investment Pool administered by the State Treasurer in accordance with Chapter 294, Laws of 1986 for the purpose of investment as stated therein. [Res. 1997-6-10.]
4.10.030 Officers authorized to order deposit or withdrawal.
The following officers, treasurer and assistant treasurer, shall be authorized to order the deposit or withdrawal of monies in the Local Government Investment Pool. [Amended during 2015 codification; Res. 1997-6-10.]
4.10.040 Deposit and withdrawal authorized – Generally.
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. [Res. 2014-6-9.]
4.10.050 Form incorporated by reference.
The governing body has approved the Local Government Investment Pool transaction authorization form (“form”) as completed by Cross Valley Water District and incorporates said form into this chapter by reference and does hereby attest to its accuracy. [Res. 2014-6-9.]
4.10.060 Authorized individual designated.
The governmental entity designates the financial accounting manager 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. [Amended during 2015 codification; Res. 2014-6-9.]
4.10.070 Revocation of delegation.
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. [Res. 2014-6-9.]
4.10.080 Effect of form after revocation.
The form as incorporated into this chapter 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. [Res. 2014-6-9.]
4.10.090 Acknowledgment of prospectus.
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. [Res. 2014-6-9.]