RES 14-663RESOLUTION NO. 14 -663
A RESOLUTION of the City Council of the City of Federal Way,
Washington, authorizing investment of City of Federal Way monies in
Local Government Investment Pool
WHEREAS, pursuant to Chapter 294, Laws of 1986, the Legislature created a trust fund to be
known as the public funds investment account (commonly referred to as the Local Government
Investment Pool (LGIP)) for the contribution and withdrawal of money by an authorized
governmental entity for purposes of investment by the Office of the State Treasurer; and
WHEREAS, from time to time it may be advantageous to the authorized governmental entity,
City of Federal Way, the "governmental entity ", to contribute funds available for investment in the
LGIP; and
and
WHEREAS, the investment strategy for the LGIP is set forth in its policies and procedures;
WHEREAS, any contributions or withdrawals to or from the LGIP made on behalf of the
governmental entity shall be first duly authorized by the Mayor of City of Federal Way, the
"governing body" or any designee of the governing body pursuant to this resolution or a subsequent
resolution; and
WHEREAS the governmental entity will cause to be filed a certified copy of said resolution
with the Office of the State Treasurer; and
WHEREAS the governing body and any designee appointed by the governing body with
authority to contribute or withdraw funds of the governmental entity has received and read a copy of
the prospectus and understands the risks and limitations of investing in the LGIP; and
WHEREAS, the governing body attests by the signature of its members that it is duly
Resolution No. 14 -663 Page 1 of 5
authorized and empowered to enter into this agreement, to direct the contribution or withdrawal of
governmental entity monies, and to delegate certain authority to make adjustments to the
incorporated transactional forms, to the individuals designated herein.
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
RESOLVES AS FOLLOWS:
Section 1. That 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.
Section 2. That the governing body has approved the Local Government Investment Pool
Transaction Authorization Form (Form) as completed by the City's Finance Director and
incorporates said form into this resolution by reference (Exhibit A) and does hereby attest to its
accuracy.
Section 3. That the governmental entity designates Finance Director and Financial Analyst,
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.
Section 4. That 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.
Section 5. The Form as incorporated into this resolution 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
Resolution No. 14 -663 Page 2 of 5
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.
Section 6. 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.
Section 7. Severability. 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 8. 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 9. Ratification. Any act consistent with the authority and prior to the effective date
of this resolution is hereby ratified and affirmed.
Section 10. 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 3rd day of June, 2014.
Resolution No. 14 -663 Page 3 of 5
CITY OF FEDERAL WAY
OR, JIM FERRELL
ATTEST:
0" ' LDIJA -
CITY CLERK, CAROL AWNEILLU C
APPROVED AS TO FORM:
INTERIM WY ATTORNEY, AMY JO PEARSALL
FILED WITH THE CITY CLERK: 5/28/2014
PASSED BY THE CITY COUNCIL: 6/03/2014
RESOLUTION NO.: 14 -663
Resolution No. 14 -663 Page 4 of 5
EXHIBIT A
LOCAL GovEpNmEN7. LNvESTINIENT POOL
,Tp--uN,TSACTlO-N AUTHORIZATION FORM
Please fill out this form completeh-, including any existing iufarmation, a. this form rill replace the preiiow form.
Name of Entim: Mailina Address:
Fax NIUMber:
E -mail Cowaa:
Do you T&I to have vote, monthly LGIP 5 tateineuts faxed to the number listed above?
Please note -ifvou rec-tnve --.tatemeentsiia fax youat-ill nat receive another cop yvia U,,S. mad.
yls. please fax -.tarenlezt: P142s,-- end :Tatemen`_s Ira U.,S. mail
Bank account where funds vkill be inirtd when mithch-anal is requested.
('Note: Funds will not be transfelTed to anv accotmt other thm, that Fisted;).
3ank, NT-Mle:
Branch Locatian:
Barl- Rcmtin2 Niunber:
Account Naunber:
4Lc-- I
. c ount Name:
Person., authorized to make deposits and ii•thdrawals for the entity listed above.
Name Title iii; nature Telephone Number
Bv si-anfature below. I cerdf;- I im authorized tor*Dresent the in litution:izencv for the DUTDO-e of this transaction.
Any chang ritted in
ge� to these imtrucfion� mu-t b* �ubnd wtitime to the Office of the State Tremurer, Please mail
this form to the addreas listed below-
OFFICE OF IF ST.A rE TF-E-4sLF.E7;.
Lor-AL Gun-mN,-*m,T hnasnfENT PCIOL
P0 Box 40200
On-. Ta., WA 99504-020D
F.46x: ".3160) 902-9044
Date Received-
Fund, Number:
00 L GIP use opil.0
State of Wa.hm--ton
Countv of
&.Tne,d or atrested-,efoxe me I y
Dated this — day of 0—
S,F-1-1" OF, STAMP
si-plature qf-volar,7
TIT"e'd Or primed pla"10 qf-voymy
N,oraz-,- Publiz, in aLd 6or the State of Wa!1-L
My 3,ppomftuent ex-myes:
Resolution No. 14-663 Page 5 of 5
YAuApd:�ed Sig_wvar6
(-Hlej
P-10
—
itffvleej
dTek?k wr mwwhoi
Any chang ritted in
ge� to these imtrucfion� mu-t b* �ubnd wtitime to the Office of the State Tremurer, Please mail
this form to the addreas listed below-
OFFICE OF IF ST.A rE TF-E-4sLF.E7;.
Lor-AL Gun-mN,-*m,T hnasnfENT PCIOL
P0 Box 40200
On-. Ta., WA 99504-020D
F.46x: ".3160) 902-9044
Date Received-
Fund, Number:
00 L GIP use opil.0
State of Wa.hm--ton
Countv of
&.Tne,d or atrested-,efoxe me I y
Dated this — day of 0—
S,F-1-1" OF, STAMP
si-plature qf-volar,7
TIT"e'd Or primed pla"10 qf-voymy
N,oraz-,- Publiz, in aLd 6or the State of Wa!1-L
My 3,ppomftuent ex-myes:
Resolution No. 14-663 Page 5 of 5