Res 90-024
---...
0072.030.005
JDW/naa
04/03/90
RESOLUTION NO.
90-24
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF FEDERAL WAY, WASHINGTON, AUTHORIZING THE
INVESTMENT OF SURPLUS FUNDS, AS AUTHORIZED BY
LAW, WITH COMMERCIAL BANKS , SAVINGS AND LOAN
ASSOCIATIONS AND BROKER DEALERS.
WHEREAS, from time to time the city has surplus funds,
and
WHEREAS, it is in the best interest of the City and its
citizens to maximize the rate of return on said surplus funds,
NOW, THEREFORE,
THE
CITY
COUNCIL
OF
THE
CITY
OF
FEDERAL
WAY,
WASHINGTON, HEREBY RESOLVES AS FOLLOWS:
section
1.
Surplus
funds
of
the
city
may,
in
accordance with law, be invested with commercial banks, savings
and loan associations and broker dealers.
section 2.
The persons authorized to invest surplus
funds in accordance with the authorization contained in section
(1) above shall be the City Manager, J. Brent McFall, the Finance
Director,
W.
E.
Bennett,
and
the
assistant
to
the
Finance
Director, Bonita Fell.
section 3.
This resolution shall be in full force and
effect as of April 16, 1990.
RESOLVED by the city
this 10th day of April, 1990.
Ie!
);
Counc~~ of the city of Federal Way
APPROVED: ~
~ 'lJ
MAYOR, DEBRA ERTEL
JDWO0800R
-1-
COpy
ATTEST/AUTHENTICATED:
c{/:~~1!. DffDREStJ¡ ~
FILED WITH THE CITY CLERK: April 3, 1990
PASSED BY THE CITY COUNCIL: April 10, 1990
RESOLUTION NO. 90-24
"
\,
JDWO0800R
-2-