Res 10-596 RESOLUTION NO. 10-596
A RESOLUTION of the City Council of the City of Federal Way,
Washington, Amending Resolution No. 91-51, Authorizing the
Investment of City of Federal Way Monies in the Local Government
Investment Pool and Specifying the Officers or Persons Authorized to
Invest and Withdraw said Funds (Amending Resolution No. 91-51)
WHEREAS, City Council adopted Resolution No. 91-51 on March 5, 1991, it and has not
been updated to reflect the current positions authorized to deposit and withdrawal monies nor the
City's designated bank; and
WHEREAS,pursuant to Chapter 294,Laws of 1986,a Local Government Investment Pool
in the State Treasure was created for the deposit of money of a political subdivision for purposes of
investment by the State Treasurer; and
WHEREAS,the City of Federal Way found in 1990 pursuant to Resolution No. 90-20 that
the deposit and withdrawal of money in the Local Government Investment Pool in accordance with
the provisions of this Chapter for the purposes of investment as stated therein are in the best interest
of the City;and
WHEREAS,set forth hereinafter are the authorized persons that have been duly empowered
to enter into the necessary agreements,
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
RESOLVES AS FOLLOWS:
Section 1. The City Council hereby authorized the Finance Director,Management Analyst
Supervisor, and Management Analyst to order the deposit or withdrawal of monies in the Local
Government Investment Pool.
Section 2. The City shall file the Local Government Investment Pool Transaction
Resolution No. 10-596 Page 1 of 5
Authorization Form (Exhibit A) designating the authorized person's signature for the positions
authorized by Council to order the deposit or withdrawal of monies and any changes in banking with
the Office of the State Treasurer as deemed necessary.
Section 3. Severabilitv. If any section, sentence, clause or phrase of this resolution should be
held to be invalid or unconstitutional by a court of competent jurisdiction, such invalidity or
unconstitutionality shall not affect the validity or constitutionality of any other section, sentence,
clause or phrase of this resolution.
Section 4. Corrections. The City Clerk and the codifiers of this resolution are authorized to
make necessary corrections to this resolution including, but not limited to, the correction of
scrivener/clerical errors, references, resolution numbering, section/subsection numbers and any
references thereto.
Section 5. Ratification. Any act consistent with the authority and prior to the effective date
of this resolution is hereby ratified and affirmed.
Section 6. Effective Date. This resolution shall be effective immediately upon passage by
the Federal Way City Council.
RESOLVED BY THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
WASHINGTON this 7th day of September 2010.
CITY OF FEDERAL WAY
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M YOR, L1NDA CHMAR
Resolution No. 10-596 Page 2 of 5
ATTEST:
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APPROVED AS TO FORM:
CITY ATTORNEY, PATRICIA A. RICHARDSON
FILED WITH THE CITY CLERK: 8/25/10
PASSED BY THE CITY COUNCIL: 9/7/10
RESOLUTION NO.: 10-596
Resolution No. 10-596 Page 3 of S
EXHIBIT A
LOCAL GOVERNMENT INVESTMENT POOL
TRANSACTION AUTHORIZATION FORM
Please fill out this form completely, including any e�cisting information, as this form will ����i� the previons form.
Name of Entity: City of Federal Way
Mailing Address: 33325 S``' Ave South
PO Box 9718
Federal Wav, WA 98063-9718
Fax Number:
E-mail contact:
Do you wish to have your monthly LGIP statements fa�ced to the number listed above?
Please note - if you choose to receive statements via fax, you will not receive another copy via U.S. mail.
� YES, please fax statements ❑ NO, please send statements via U.S. mail
Bank account where funds will be wired when a withdrawal is requested.
(NOTE: Funds will not be transferred to any account other than that listed).
Bank Name:
Branch Location:
Bank Rouring Number:
Account Number:
Account Name:
Persons authorized to make deposits and withdrawals for the entity listed above.
Name (please print) Title Si�nature TeleQhone #
By signature below, I certify I am authorized to represent the institution/agency for the purposes of this transaction.
(Authorized Signature� (Title) (Date�
(Print AuthoriZed Name) (E-mail address) (Tefephone #)
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Any changes to these instructions must be submitted in writing to the Office of the State Treasurer.
Please mail this form to the address listed below:
OFFICE OF THE STATE TREASURER
LOCAL GOVERNMENT INVESTMENT POOL
LEGISLATIVE BUILDING
PO BOX 40200
OLYMPIA WA 98504-0200
FAX: 360/902-9044
�1�4' �CC�lYet�: / ` /
Fnnd Numl�ert
' (for �GIP use only)'
rev. 03/OS
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