HomeMy WebLinkAbout1997-37 Local Gov Invest PoolRESOLUTION NO. 97- 5"~
A RESOLUTION GRANTING IRREVOCABLE LIMITED POWER OF
ATTORNEY FOR THE LOCAL GOVERNMENT INVESTMENT POOL
THE CITY OF ASHLAND RESOLVES AS FOLLOWS:
SECTION 1. The City of Ashland hereby appoints the Investment Manager of the
Oregon State Excess Fund as Attorney-in-Fact and said officer shall have the Power of
Attorney to negotiate fund transfers to the Oregon Department of Transportation,
Financial Services Branch, and deliver to said Chief Financial Officer or Staff delegated
the authority; for the State of Oregon, for the purpose of deposit the proceeds of such
fund transfer to the account of the Oregon Department of Transportation, Financial
Services Branch with the State Treasurer.
SECTION 2. The City of Ashland has deposited with the State of Oregon Investment
Pool the sum of $321,934 in Account Number 4402. The purpose of this deposit is to
create a fund from which to pay its share of the cost of certain improvements to be
made in connection with the 8th Street - Tolman Creek Road Bicycle Path, Agreement
Numbers 12748 and 14711.
SECTION 3. This resolution authorizes the Chief Financial Officer of the Oregon
Department of Transportation to draw or delegate the authority to draw on the account
to pay project costs. The signature of State upon a voucher in a form acceptable to the
custodians of the State Investment Pool shall constitute proper authority for the
withdrawal of money up to the total amount of the deposit identified above.
SECTION 4. The authorized signature shall be furnished by the Chief Financial Officer
of the Oregon Department of Transportation to the State Treasury Department.
This resolution was read by title only in accordance with Ashland Municipal Code
Barbara Christensen, City Recorder
SIGNED and APPROVED this '~
Re~//L,~~wed as to form:
Paul Nolte, City Attorney
Catherine M. Golden, Mayor
,1997.
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