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HomeMy WebLinkAboutR90-113 authorizing investing in local government non arbitrage trust fundJ Commissioner A,� moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 90- J13 A RESOLUTION AUTHORIZING THE GOVERNING BODY OF THE COUNTY OF EAGLE, STATE OF COLORADO TO INVEST THE PROCEEDS OF ITS GOVERNMENTAL BONDS IN THE COLORADO LOCAL GOVERNMENT NON - ARBITRAGE TRUST FUND- - A COLORADO NON - ARBITRAGE POOL ( "CNAP ") WHEREAS, the Board of County Commissioners of the County of Eagle, State of Colorado (hereinafter "the Board "), desires to invest the proceeds of its governmental bonds in the Colorado Local Government Non - Arbitrage Trust Fund. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the Board hereby finds and determines that (a) Colorado local governments are authorized pursuant to C.R.S. 24 -75 -701 et sec., as amended, to pool any moneys in their treasuries, which are not immediately required to be disbursed, with the same moneys of other Colorado local governments and to establish local government surplus funds trust funds; (b) the Board has reviewed (i) the Information Statement describing the Colorado Local Government Non - Arbitrage Trust Fund ( "CNAP ") and (ii) the Indenture creating CNAP; and (c) it is in the best interests of the County of Eagle, State of Colorado to be an Initial Participant in CNAP and to authorize the Eagle County Treasurer to serve as its Designated Representative ('Treasurer ") on the Governing Board and the Advisory Board as a Trustee of CNAP. THAT, the Indenture is hereby approved, and the Eagle County Treasurer hereby agrees to participate as an Initial Participant with other Colorado local governments to establish CNAP; and the Treasurer is hereby appointed and authorized to execute the Indenture on behalf of the County of Eagle, State of Colorado and to represent the County of Eagle, State of Colorado on the Governing Board and Advisory Board as a Trustee of CNAP. THAT, the Board acknowledges that its decision to authorize this participation in CNAP is based solely on the information set forth in the Information Statement and in the Indenture, and the Board hereby acknowledges that the Governing Board and Advisory Board are not, and shall not be, in any way liable to the County of Eagle, State of Colorado in connection with CNAP, except as otherwise provided in the Indenture. THAT, this resolution shall take effect immediately upon its adoption and shall remain in effect in accordance with the provisions of the Indenture. MOVED, READ AND ADOPTED by the Board of County Commis sio ers of the County of Eagle, State of Colorado, at its regular meeting held the (R day of November, 1990. ATTEST: By V } Clerk to the o r of County Commissioners COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS . Lys lonald H. Wilch, Chairman GeorgeA. Gates, Commissioner Commissioner 2AL seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner George A. Gates P Commissioner Donald H. Welch Commissioner Richard L. Gustafson �! /p This Resolution passed by � vote of the Board of County Commissioners of the County of Eagle, S ate of Colorado.