9750%SOLUTION NO. 9,750 •
1
2 A RESOLUTION DELEGATING TEMPORARY
3
4 AUTHORITY FOR THE INVESTMENT AND
5 MANAGEMENT OF CITY OF LITTLE ROCK,
6 ARKANSAS FUNDS; AND FOR OTHER PURPOSES.
7
8 WHEREAS, the Board of Directors of the City of Little Rock, Arkansas has
9
adopted an official investment policy in Resolution No. 9,404; and
10
11 WHEREAS, under the authority granted by State Statutes and Resolution No.
12 9,404 the Finance Director and Treasurer is responsible for investing unspent cash in the
13 City Treasury, and for delegating authority for executing investment transactions to other
14
15 persons; and
16 WHEREAS, under the terms of certain Ordinances authorizing City bond issues,
17 the Finance Director and Treasurer is authorized to approve disbursements and deposit
18 funds required to make scheduled debt service payments; and
19
20 WHEREAS, the position of Finance Director and Treasurer will be vacant after
21 July 26, 1996 until a new individual is selected for and appointed to fill the position, and
22 a temporary appointment to the authority vested in the position is required in order to
23 insure that the City's funds are properly and legally managed, and that there is no
24
disruption to the City's bond issue construction program.
25
26 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
27
28 THE CITY OF LITTLE ROCK, ARKANSAS:
29 SECTION 1. The Board of Directors of the City of Little Rock, Arkansas hereby
30 appoints the City Controller as the temporary Finance Director and Treasurer for the
31 '
City, to serve during such time as the position is vacant and not filled with a permanent
32
33 employee.
34 SECTION 2. This Resolution shall be effective immediately following its
35 adoption.
36
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
ADOPTED: July 16,1996
ATTEST:
CITY CLERK
APPROVED AS TO FORM:
i
r. `
• I . IiI
0
APPROVED: