HomeMy WebLinkAboutRes 36-99 07/20/1999 RESOLUTION NO. 3 6-9 9
A RESOLUTION ESTABLISBING AN INVEST1VIENT POLICY
FOR ~ VILLAGE OF MOUNT PROSPECT
WHEREAS, the Village of Mount Prospect endorses sound financial practices which includes
the investment of funds on a regular basis in order to earn interest income; and
Wlt'EREAS, it is essential that proper procedures are followed in selecting and safeguarding the
investments of the Village; and
WHEREAS, the Village's current investment policy was adopted by Resolution No. 3885 on
July 2, 1985; and
WI:rEREAS, there have been some recent changes to the Public Funds Investment Act (30 ILCS
235) which need to be reflected in the Village's investment policy.
NOW,THEREFORE, BE IT RESOLVED that the Mayor and Board of Trustees oft. he Village
of Mount Prospect, Cook County, Illinois, have reviewed the attached investment policy for the
Village of Mount Prospect and have determined that such policy be established to govern the
investment of Village funds.
BE IT FURTHER RESOLVED that the Director of FinancedTreasurer of the Village of Mount
Prospect is hereby authorized and directed to invest Village funds as set forth in the investment
policy attached hereto as Exhibit A.
BE IT FURTHER RESOLVED that this Resolution shall be in full force and effect fi'om and
after its passage and approval in the manner provided by law.
AYES: Lohrstorfer, Nocchi, Skowron, Wilks
NAYES: None
ABSENT: Farley, Hoefert
T'imothy J. ~o~oran
ATII:ST: Mayor Pro Ten~
Village Clerk