HomeMy WebLinkAbout2000-09-13 00-346 RESOLVEMURDER ACTION 00-346
Data: 9-13-00 Mw no 00-347
xteu/Cubject: RRSOLUMMUS AC[hor iziy the Finance Director and his/her
designee to purcha9e and sell eeCuzities through two securities firms.
Responsible Department: Finance
Coneentary: Me attached two resolutions would allow the F Director
s
and his/her designee to buy and sell a xitiee through two fires:McDonald
Inveatmevts (an affiliate of Rey Bank, our former depository bvd:, with
which we've rad a longetanding relationship) and !IDSA, about which you
recently received a corporate information. The resolution pertaining t0
McDonald Investmenteieplaces an misting resolution; the one pertaining t
MBIA establishes anew
relationahip. Both these authorizations came before
the Finance Comittee recently, and both Fare approved.
I recommend your approval.
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Associated Information:
olution
Budget Approval:
FINANCEFINANCE DMECTOR
Legal Approval:
xnivanced Far_
om_ Passage
First ReadingPage_of
Referral to F _
inavice Comai tree
A Sxsmed to Councilor Patter September 13, 2000
CITY OF BANGOR
RESOLVED
Whereas, In the conduct of normal aty business, It Is regularly necessary to purchase and
sell securities to provide for and meet the Citys operating needs; and
Whereas, MBUy Inc, has proposed services that facilitate the cost effective execution of
such transactions;
Now, Therefore, Be It ResoNed, THAT the Finance Director and his/her designee is authorized
to enter into securities transactions with the aforesaid company.
IP CITY'. CWNCIL
September 13, 2000
Passed
Lr ciSat
00-366
RESOLVE
Authorizing the Finance Director avd hial
her designee to Purchase and Sell Securities
'1'hrought MIA, luc.
CA