| To: |
Ana Cortez, City Manager |
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| From: |
Liz Hirst, Controller |
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| Subject: |
Consider a resolution authorizing participation in the Board of Investments of the State of Montana Short Term Investment Pool (STIP) and authorizing the execution and delivery of documents related thereto and repealing resolution No. 20448. |
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Present Situation:
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On June 18, 2018, the Commission passed Resolution 20448 authorizing participation in the STIP program and appointing Glenn Jorgenson, Administrative Services Director, as the City’s authorized representative. His retirement requires the City to pass a new resolution. Currently the City has $52,250,851.71 in this investment pool.
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Background Information:
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Adopt the resolution authorizing the City of Helena to continue participation in the Montana Board of Investment’s investment pool (STIP), and appointing Liz Hirst, Controller/Treasurer as Authorized Representative, and authorizing the execution and delivery of documents related thereto.
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Proposal/Objective:
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Adopt the resolution authorizing the City of Helena to continue participation in the Montana Board of Investment’s investment pool (STIP), and appointing Liz Hirst, Controller/Treasurer as Authorized Representative, and authorizing the execution and delivery of documents related thereto.
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Advantage:
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Adopting this resolution will secure the City’s ability to continue to invest funds in the program.
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Notable Energy Impact:
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N/A |
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Notice of Public Hearing:
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N/A
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