12/23/2010 12:17:26 PM
12/23/2010 12:17:26 PM
City of Clive
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RESOLUTION NO. 89 -56 <br /> FORM A <br /> IOWA PUBLIC AGENCY INVESTMENT TRUST <br /> MODEL RESOLUTION <br /> A RESOLUTION AUTHORIZING THE APPROVAL OF A JOINT POWERS AGREEMENT AND DECLARATION OF <br /> TRUST FOR THE IOWA PUBLIC AGENCY INVESTMENT TRUST AND AUTHORIZING PARTICIPATION THEREIN. <br /> WHEREAS, Iowa Code Section 28E.1 (1987 as amended) permits political subdivisions to make efficient use of their powers by <br /> enabling them to provide joint services with other Public Agencies and to cooperate in other ways of mutual advantage, and to exercise <br /> and enjoyjointly any powers, privileges or authority exercised or capable of being exercised by one PublicAgency of this state or private <br /> agencies for the joint or cooperative action; and <br /> WHEREAS, Iowa Code Sections 331.555 and 384.21 (1987 as amended) empowers Cities, City Utilities and Counties to invest their <br /> moneys pursuant to a joint investment agreement, and <br /> WHEREAS, the City of Fairfield, the Maquoketa Municipal Utility and Buchanan County are political subdivisions being duly <br /> organized and existing under and by virtue of the laws and constitution of the State of Iowa, and <br /> WHEREAS, the City of Fairfield, the Maquoketa Municipal Utility and Buchanan County have approved the Joint Powers Agreement <br /> and Declaration of Trust and thereby have established the Iowa Public Agency Investment Trust as of October 1, 1987 and <br /> WHEREAS, this Governing Body desires to adopt and enter into the Joint Powers Agreement and Declaration of Trust, and it is <br /> in the best interest of this Governing Body to participate in the Iowa Public Agency Investment Trust for the purpose of joint investment <br /> of moneys with other cities, city utilities and counties to enhance investment earnings occurring to each <br /> NOW, THEREFORE, be it resolved: <br /> Section 1. The Joint Powers Agreement and Declaration of Trust is approved and adopted. This Public Agency shall join with the <br /> other public agencies in accordance with the Joint Powers Act by becoming a Participant of the Trust. The Joint Powers Agreement <br /> and Declaration of Trust shall be filed in the minutes of the meeting at which this resolution is adopted. The authorized officials of <br /> this PublicAgency are directed and authorized to take such actions and execute any and all such documents as may be deemed necessary <br /> and appropriate to effect the entry of this Public Agency into the Declaration of Trust and adoption thereof by this Public Agency <br /> and to carry out the intent and purpose of this resolution. <br /> Section 2. This Public Agency is hereby authorized to invest its available moneys from time to time and to withdraw such moneys from <br /> time to time in accordance with the provisions of the Joint Powers Agreement and Declaration of Trust. The following officers and <br /> officials of this Public Agency and their respective successors in office each hereby are designated as "Authorized Officials" with full <br /> power and authority to effectuate the investment and withdrawal of moneys with this Public Agency from time to time in accordance <br /> with the Joint Powers Agreement and Declaration of Trust. <br /> (Printed Name) Marjorie S. Roberts (Title) City Clerk /Treasurer <br /> (Printed Name) Marjorie S. Roberts (Title) Sec Clive Police Retirement <br /> System <br /> (Printed Name) (Title) <br /> The Trust shall be advised of any changes in authorized officials in accordance with procedures established by the Trust. <br />
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