HomeMy WebLinkAbout2014-07-10 - Resolution No. 14-09RESOLUTION NO. 14 -09
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
AUTHORIZING THE ACTING GENERAL MANAGER AND FINANCE MANAGER TO
ACT OIL BEHALF OF THE DISTRICT RELATING TO DISTRICT INVESTMENTS
MELD AT PEiRSHING LLC AND RESCINDING RESOLUTION NO. U-02
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 adopted June 2014 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 Resolution No. 13 -02 is hereby rescinded.
Section 2. Steven R. Conklin, Acting General Manager, and
Delia D. Lugo, 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. 14 -09 Authorized Officers for Investments Held at Pershing
the name of or held for Yorba Linda Water District at Pershing LLC.
PASSED AND ADOPTED this 10th day of July 2014 by the following called vote:
AYES: Directors Beverage, Collett, Hawkins, Kiley and Melton
NOES: None
ABSTAIN: None
ABSENT: None
Robe R. Kiley, President
Yorba Linda Water District
ATTEST:
Steve Conklin, Board Secretary
Yorba Linda Water District
Reviewed as to form by General Counsel:
Arthur G. Kidman, Esq.
Kidman Law LLP
Resolution No. 14 -09 Authorized Officers for Investments Held at Pershing 2
Corporate ,'esdufaon
"Resolved, that each and any of the following individuals:
of • -• person(s)
Delia D. Lugo
Finance Manager
Steve R. Conklin
Acting General Manager
each of whom holds the office indicated, is authorized to act on behalf of the corporation to buy, sell, assign, loan,
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
Signature of Corporate or other Officer
Required
Annie Alexander, Assistant Board Secretary
Printed Name of Cor ^ ^• ^ *� ^�� ^ *�°
or other Officer
Corporate Seal:
(If no seal, please wr
t�,,
July 10, 2014
Date
Must be signed by the Corporate Secretary or
other officer. Person who signs here should not
be one of those given authority by the resolution.