HomeMy WebLinkAbout2014-09-03 - Resolution No. 14-12RESOLUTION NO. 14 -12
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
AUTHORIZING THE GENERAL MANAGER AND FINANCE MANAGER TO ACT ON
BEHALF OF THE DISTRICT RELATING TO DISTRICT INVESTMENTS HELD AT
PERSHING LLC AND RESCINDING RESOLUTION NO. 14 -09
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 to add the 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 Resolution No. 14 -09 is hereby rescinded.
Section.2. Andrew "Marc" P. Marcantonio, 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
the name of or held for Yorba Linda Water District at Pershing LLC.
Resolution No. 14 -12 Authorized Officers for Investments Held at Pershing
PASSED AND ADOPTED this 3rd day of September 2014 by the following called vote:
AYES: Directors Beverage, Collett, Hawkins, Kiley and Melton
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST:
C �_�
Annie Alexander, Assistant Board Secretary
Yorba Linda Water District
Rob6rt R. Kiley, President
Yorba Linda Water District
Resolution No. 14 -12 Authorized Officers for Investments Held at Pershing 2
