HomeMy WebLinkAbout2013-02-14 - Resolution No. 13-02 RESOLUTION NO. 13-02
' 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 AND RESCINDING RESOLUTION NO. 12-24
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; and
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; and
WHEREAS, First Empire 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 of the Yorba Linda Water District does
hereby find, determine, and resolve the following:
Section 1. Resolution No. 12-24 is hereby rescinded.
Section 2. 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]
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Resolution No. 13-02 Authorized Officers for Investments Held at Pershing 1
' the name of or held for Yorba Linda Water District at Pershing LLC.
PASSED AND ADOPTED this 14th day of February 2013 by the following called vote:
AYES: Directors Beverage, Collett, Hawkins, Kiley and Melton
NOES: None
ABSTAIN: None
ABSENT: None
Gary ton, President
YorbarLincla Water District
ATTEST:
Steve Conklin, Board Secretary
Yorba Linda Water District All
' Reviewed as to form by General Counsel:
rthur G. Kidman, Esq.
Kidman Law LLP
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Resolution No. 13-02 Authorized Officers for Investments Held at Pershing 2