HomeMy WebLinkAboutRes 07-88 02/02/1988
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RESOLUTION NO.
7-88
A RESOLUTION AUTHORIZING MONEY MARKET
ACCOUNTS WITH FIDELITY INVESTMENTS
WHEREAS, one of the objectives of the Village of Mount Prospect's Investment
Policy adopted July 2,1985 is to comply with Illinois Revised Statutes, Chapter
102-34-1 which states: "When deposits of Village monies become collected funds
and are not needed for immediate disbursement, they shall be invested within two
working days at prevailing rates or better;" and
WHEREAS, the Village's Investment Policy authorizes investing in securities
permitted in Illinois Revised Statutes, Chapter 85-902-2; and
WHEREAS, the Village of Mount Prospect would like to utilize Fidelity Investments
Government Money Market Portfolio and Government Bond Portfolio.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE
OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: The Village of Mount Prospect is authorized to open a Government
Money Market Portfolio and a Government Bond Portfolio account with Fidelity
Investments.
SECTION TWO: That the deposits and withdrawals from the above accounts may be
made by anyone of t~e following:
Carolyn H. Krause
David C. Jepson
Richard L. Jesse
Village President
Finance Director
Village Treasurer
SECT ION THREE:
to:
All notices and statements from the above accounts shall be mailed
Village of Mount Prospect
Attention: Finance Director
100 South Emerson Stre~t
Mount Prospect, Illinois 60056
SECTION FOUR: That this Resolution shall be in full force and effect from and
after its passage and approve in the manner provided by law.
AYES: Arthur, Farley, Floras, Van Geem, Wattenberg'
NAYS: None
ABSENT: Muraus]Üs
PASSED and APPROVED ~ day of
February
, 1988
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H. Krause, Mayor