CCR1997191COMMON COUNCIL - CITY OF MUSKEG0
RESOLUTION #191-97
RESOLUTION TO AMEND CITY POLICY FOR
DEPOSITING AND INVESTING CITY FUNDS
WHEREAS, on August 13, 1991, the Common Council of the City of
Muskego adopted Resolution #190-91 establishing a policy for
depositing and investing City funds and on September 26, 1995
amended said Policy through Resolution #193-95, as amended and
adopted, and on January 9, 1996 further amended said Policy
through Resolution #1-96; and
WHEREAS, the Finance Committee has recommended that the Policy
for Depositing and Investing City Funds be amended as follows:
Section 11. INVESTMENTS
A. Subject to the provisions of this policy, the City-Treasurer
shall seek advice from the Finance Director on all
and are available for investments. If unable to arrive at
investments of City Funds that are not immediately needed
Committee for determination. The Common Council makes it
concensus, the matter shall be referred to the Finance
known to all banks, investment bankers, brokers, dealers and
others accepting deposits, selling securities or shares or
in any manner is involved in the investments and deposits of
the City, that the Treasurer is an untrained public
official, not a sophisticated investor and is restricted in
her/his activities by state law and this resolution.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the
City of Muskego, upon the recommendation of the Finance
Committee, does hereby amend the Policy for Depositing and
Investing City Funds as stated above.
DATED THIS 26th DAY OF AUGUST , 1997.
SPONSORED BY:
FINANCE COMMITTEE
Ald. David J. Sanders
Ald. Domonic D'Acquisto
Ald. Nancy C. Salentine
This is to certify that this is a true and accurate copy of
Resolution #191-97 which was adopted by the Common Council of
the City of Muskego.
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CITY OF MUSKEG0
W182 S8200 RACINE AVENUE, MUSKEGO, WI 53150
OFFICE OF THE CLERK-TREASURER
PHONE: (414) 679-5625 FAX: (414) 679-4106
MEMORANDUM
TO: Atty. Don Molter
FROM ~ Jean K. Marenda and Dawn Gunderson
DATE: August 11,1997
RE: INVESTMENT POLICY
We have reviewed the information you submitted from the League and our discussions
with various Treasurers and Finance Directors around the State, as well as the Mayor,
and would like to recommend the following amendment to the Investment Policy. This
matter has been placed on the Finance Committee agenda for August 20, 1997
Please call when you return from vacation.
Delete shaded area - add language in BOLD
Section 11. INVESTMENTS
A.
ADVICE FROM THE FINANCE DIRECTOR ON ALL INVESTMENTS OF CITY
FUNDS that are not immediately needed and are available for investments. IF
UNABLE TO ARRIVE AT CONCENSUS, THE MAlTER SHALL BE REFERRED
TO THE FINANCE COMMllTEE FOR DETERMINATION. The Common Council
makes it known to all banks, investment bankers, brokers, dealers and others
accepting deposits, selling securities or shares or in any manner is involved in the
investments and deposits of the City, that the Treasurer is an untrained public
officials, not a sophisticated investor and is restricted in herlhis activities by state law
and this resolution.
cc: Mayor