R-213 - 11/09/1976 - INVESTMENT POLICY - Resolutionsa 13
RESOLUTION NO.
Ala
A RESOLUTION AUTHORIZMG PARTICIPATOR IN THE ILLINOIS PUBLIC
TREASURER'S INVESTMENT POOL BY THE VILLAGE OF OAK BROOK.
DU PAGE AND COOK COUNTIES, ILLINOIS.
WHEREAS, the Treasurer of the State of Illinois has established
a fund to facilitate the investment of funds held by public treasurers and
designated the Illinois Public Treasurer's Investment Pool. and
WHEREAS, Chapter 130, Section 17 of the Illinois Revised
Statutes (1975) authorises the creation of said In estment Pool and
authorizes the Treasurer of the State of Slinoia to receive public funds
paid into said Investment Pool by any other custodian of each funds
and to serve as the fiscal agent of that custodian of public finds for the
purpose of holding and investing those finds: and
WHEREAS, the Village of Oak Brook is qualified to be a
participant in said Investment Pool. and
WHEREAS, the Corporate Authorities of the Village of Oak
Brook deem the passage of this Resolution to be in the best interest
and in. furtherance of the general welfare of the Village of Oak Brook.
NOW, THEREFORE, BE IT RESOLVED by the President
and Board of Trustees of the Village of Oak Brook, DuPage and Cook
Counties. Illinois. that:
SECTION 1: The provisions of the preamble hereinabove set forth are
hereby restated herein as though herein fully set forth.
SECTION 2: The Village of Oak Brook, Dapage and Cook Counties,
Dlino s, hereby elects to become a participant in the Illinois Public
Treasurer's Investment Pool under the terms and conditions of the ad-
ministration of the Pool as outlined in the circular of the State Treasurer
dated December 22, 1975, with such changes to said terms and condi-
tions as the Village receives prior written notice of, and does not object
to. Said Pool to hereby designated an authorised depository of Village
funds.
SECTION 3: The following persons are hereby authorised to purchase
sad participations in the said Pool and make deposits, withdrawals
and transfers of funds for the account of the Village In said Pool:
George B. Rowell, Village President
Raymond J. VanDyke. Jr.. Village Treasurer
The Village Treasurer shall designate a financial institution authorized
to receive Village funds to receive the proceeds of any sale or distri-
bution from said Pool tot credit to the account of the Village.
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SECTION 4: The Village Manager and Village Treasurer are hereby
outhorixed to advise the State Treasurer's office of this Resolutions
and to execute ouch documents as are required to effect the Village's
participation in said Pool.
SECTION 6: All resolutions, rules and regulations of the Village of
Oak ook which are in conflict with the provisions of this Resolution
are hereby repealed to the extent of the conflict.
SECTION 8: U any section, subsection. sentence, clause or ph:soe
ooftt this Resolution is for any reason held to be invalid, such determin-
ation shall not affect the validity of any remaining portion of this
Resolution.
SECTION 7: This Resolution ahall be in full force and effect from and
Wee its passage, and approval as required by law.
PASSED and APPROVED by the President and Board of Trustees of
the Village of Oak Brook this _ �=! day of r`} o P. {n•
1876.
APPROVED:
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ATTEST:
_r V—Ii rage Laork
AYES; G
NAYS: O
ABSENL�. 1
Filed In the Office of the Village Clerk and published by authority of the
President and Board of Trustees of the Village of Oak Brook this
day of o l aw �naa�_ 1876 .