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HomeMy WebLinkAbout16631 • 1 RESOLUTION NO. 16,631 2 3 A RESOLUTION TO AUTHORIZE THE CHIEF FINANCIAL OFFICER, 4 THE TREASURY MANAGER, AND THEIR DESIGNEE TO ENGAGE 5 THE SERVICES OF CERTAIN FINANCIAL INSTITUTIONS TO 6 TRANSACT CITY BUSINESS AND TO TRANSFER, SELL,ASSIGN,AND 7 DELIVER ANY AND ALL BONDS, DEBENTURES, NOTES, EVIDENCE 8 OF INDEBTEDNESS, OR OTHER SECURITIES NOW OR HEREAFTER 9 OWNED BY THE CITY OF LITTLE ROCK, AND TO MAKE, EXECUTE 10 AND DELIVER ANY AND ALL WRITTEN INSTRUMENTS NECESSARY 11 OR PROPER TO EFFECTUATE THE AUTHORITY HEREBY 12 CONFERRRED; AND FOR OTHER PURPOSES. 13 14 WHEREAS, certain fmancial institutions require a corporate resolution from the Board of Directors 15 authorizing the City of Little Rock ("City")to do business with the fmancial institutions and naming the 16 City positions authorized to conduct business on behalf of the City;and, 17 WHEREAS,the Board of Directors of the City of Little Rock(the"Board")adopted Resolution No. 18 12,520 (May 15, 2007)adopting an official City investment policy which, among other things, authorizes 19 certain City employees to conduct investment transactions on behalf of the City;and, 20 WHEREAS, from time to time, it is prudent to list the titles of City positions that are authorized to 21 transact business with financial institutions with regards to investments. 22 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 23 OF LITTLE ROCK,ARKANSAS: 24 Section 1. The Chief Financial Officer, the Treasury Manager, and their designee are authorized 25 positions to effect securities transactions for the City of Little Rock. All transactions shall be consistent 26 with the City's investment policy and state law. These positions are authorized to open an account, to 27 execute any and all relevant documents, and to deal with the financial institution in connection with all 28 aspects of the account. 29 Section 2. The City Clerk is authorized to certify, from time to time, the names and titles of the 30 authorized individuals to the financial institutions who meet the qualifications set forth in Section V of the 31 City's investment policy,and to notify the fmancial institutions when changes in office occur. [Page 1 of 2] 1 Section 3. The City Clerk is further authorized to certify to the financial institutions that such a 2 notification has been duly adopted and will remain in full force and effect until the Transfer Agent receives 3 a duly authorized amendment to the certification form. 4 Section 4. The authority conferred above is consistent with the City's investment policy and state law. 5 Section 5. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 6 word of this ordinance is declared or adjudged to be invalid or unconstitutional, such declaration or 7 adjudication shall not affect the remaining portions of the ordinance,which shall remain in full force and 8 . effect as if the portion so declared or adjudged invalid or unconstitutional was not originally a part of the 9 ordinance. 10 Section 6. Repealer. All ordinances, resolutions, bylaws, and other matters inconsistent with this 11 resolution are hereby repealed to the extent of such inconsistency. 12 ADOPTED: March 18,2025 13 ATTEST: APPROVED: 14 15 16 Allison Segars,City rk Frank Scott.Jr.,Mayor 17 APPROVED AS TO LEGAL FORM: 18 19 `1 w( ' 20 Thomas M.Carpenter,City A orney 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // [Page 2 of 2]