HomeMy WebLinkAbout2017-08-08 - Resolution No. 17-27 RESOLUTION NO. 17-27
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
AUTHORIZING THE GENERAL MANAGER, ASSISTANT GENERAL MANAGER
AND FINANCE MANAGER TO ACT ON BEHALF OF THE DISTRICT
RELATING TO DISTRICT INVESTMENTS HELD AT PERSHING, LLC
AND RESCINDING RESOLUTION NO. 14-12
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 in June 2017 authorized the
District's Treasurer to invest fund of the District and the Board of Directors
desires to add the General Manager and Assistant General Manager as
back-ups 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 find,
determine, and resolve the following:
Section 1. Resolution No. 14-12 is hereby rescinded.
Section 2. Andrew "Marc" Marcantonio, General Manager, Brett R. Barbre, Assistant
General Manager, and Delia D. Lugo, Finance Manager, each of whom
holds the office as indicated, is authorized to act on behalf of the Yorba
Resolution No. 17-27 Authorized Officers for Investments Held at Pershing 1
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.
PASSED AND ADOPTED this 8th day of August 2017 by the following called vote:
AYES: Directors Hall, Jones, Miller and Nederhood
NOES: None
ABSTAIN: None
ABSENT: Director Hawkins
J. Wayne Miller, Ph.D., President
Yorba Linda Water District
ATTEST:
Marc Marcantonio, Secretary
Yorba Linda Water District
Reviewed as to form by General Counsel:
Andrew B. Gagen, sq.
Kidman Law LLP
Resolution No. 17-27 Authorized Officers for Investments Held at Pershing 2