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AGENDA ITEM <br />Item No.: <br />Date: July 9, 2018 <br />Item Description: Adoption of a Resolution Approving Morgan Stanley's Resolutions <br />for Corporations <br />Presenter: Ron Olson Agenda Consent Agenda <br />Finance Director Section: <br />1. Purpose. The purpose of this action item is to add Maggie Ung, the city's accountant as an authorized <br />signer to the city's brokerage account with Morgan Stanley. <br />2. Background. The City currently has four investment brokers that it uses to invest funds not <br />immediately required for operating expenditures. The Finance Director is responsible for maintaining the <br />investment portfolio. In order to ensure that that the City has ready access to its available funds, the <br />Accountant is given authority to make investment decisions in situations where the Finance Director is <br />unavailable. Morgan Stanley requires the adoption of a resolution to add an authorized signer to the <br />account. <br />3. Cost. There is no cost associated with this action. <br />4. Staff Recommendation. Staff recommends approval of the of the Resolution Approving Morgan <br />Stanley's Authorized Persons and Enabling Resolutions for Corporations. <br />COUNCIL ACTION REQUESTED <br />Motion to approve a Resolution Approving the Morgan Stanley Authorized Persons and Enabling <br />Resolutions for Corporations. <br />Exhibits <br />Exhibit A. Resolution Approving the Morgan Stanley Authorized Persons and Enabling Resolutions for <br />Corporations <br />Exhibit B. Morgan Stanley's Authorized Persons and Enabling Resolutions for Corporations <br />Prepared By: <br />j*16 <br />Reviewed By: AMC <br />Approved By: AMC <br />