HomeMy WebLinkAbout2012-10-11 - Resolution No. 12-24 RESOLUTION NO. 12-24
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
AUTHORIZING THE ACTING GENERAL MANAGER AND FINANCE
MANAGER TO ACT ON BEHALF OF THE DISTRICT RELATING
TO DISTRICT INVESTMENTS HELD AT PERSHING LLC
WHEREAS, in July 2012 , District staff completed the process of vetting Matthew
D'Avanzo , Senior Vice-President - Fixed Income Strategies at First Empire
Securities (First Empire) as a broker/dealer;
WHEREAS , First Empire has an agreement with Pershing LLC (Pershing) where the
District can choose to have investments purchased through First Empire
be held at Pershing at no cost to the District;
WHEREAS, in order to utilize Pershing as a custodian of investments at no charge to
the District, Pershing requires that a resolution be adopted authorizing
people to act on behalf of the District relating to District investments held
at Pershing ; and
WHEREAS, the District's current investment policy approved December 2011
authorizes the District's Treasurer to invest funds of the District and the
Board of Directors desires adding the Acting General Manager as a back-
up should the Treasurer not be available for an extended period of time.
NOW, THEREFORE, THE BOARD OF DIRECTORS HEREBY RESOLVES, that each
and any of the following:
Steven R . Conklin , Acting General Manager, and
Stephen Parker, Finance Manager,
each of whom holds the office indicated , is authorized to act on behalf of the Yorba
Linda Water District to buy, sell , assign , loan , borrow, endorse for transfer, transfer and
receive stocks , bonds, securities , money and other assets now or hereafter registered in
[INTENTIONALLY BLANK]
Resolution No. 12-24 Authorized Officers for Investments Held at Pershing
the name of or held for Yorba Linda Water District at Pershing LLC.
PASSED AND ADOPTED this 11th day of October 2012 by the following called vote:
AYES : Directors Beverage , Collett , Hawkins , Kiley , and Melton
NOES: None
ABSTAIN : None
ABSENT: None
`Phil Hawkins , Kesident
Yorba Linda Water District
ATTEST:
Annie Alexander, Assistant Secretary
Yorba Linda Water District
Reviewed as to form by General Counsel :
Arthur G. Kidman , Esq.
Kidman Law, LLP
Resolution No. 12-24 Authorized Officers for Investments Held at Pershing
Corporate Resolution
"Resolved,that each and any of the following individuals:
Name(s)of authorized person(s) Title
Steven R. Conklin Acting General Manager
Stephen Parker Finance Manager
riz to act on behalf of the corporation to buy,sell,assign,loan,
each of whom holds the office indicated, is authorized o a p y, g ,
borrow,endorse for transfer,transfer and receive stocks,bonds,securities,money and other assets now or hereafter
registered in the name of or held by or for the corporation:'
I,the undersigned officer of the corporation identified below,hereby certify that the corporation is a corporation in
good standing,incorporated in the state indicated below,and that the above-quoted resolution is a true and complete
copy of a resolution duly adopted by its board of directors on the date indicated below, in full compliance with all the
requirements of applicable law,articles of incorporation,bylaws and any other governing documents,and that the
resolution has not been repealed or amended and remains in full force and effect.
Name of Corporation:
Yorba Linda Water District
State of Corporation:
California
October 17, 2012
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Signature of Corporate or other Officer Date
Required
Annie Alexander, Assistant Secretary Must be signed by the Corporate Secretary or
ry other officer. Person who signs here should not
Printed Name of Corporate Secretary 1AA"4, be one of those given authority by the resolution.
or other Officer
C rj
Corporate Seal:
(If no seal,please write"NONE") f ; 2- `"-
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