HomeMy WebLinkAboutRes - 1994.20 - transferring bond funds (-Th A
RESOLUTION 1994.20
A RESOLUTION OF THE BOARD OF DIRECTORS
OF THE EAST VALLEY WATER DISTRICT
TRANSFERRING BOND FUNDS FROM BANKERS TRUST FUND
TO THE FIRST AMERICAN CT FUND
BE IT HEREBY RESOLVED, by the Board of Directors of the East Valley Water
District, as follows:
WHEREAS, 1966 Water Bonds Funds from Division 1 in the approximate amount of
$14,768.32 and Division 2 in the approximate amount of $14,921.67 are presently being
held in the Bankers Trust Fund and managed by First Trust of California; and
WHEREAS, First Trust of California has requested that these funds be deposited
into the First American CT Fund which is a money market fund within the First American
Funds mutual funds family; and
WHEREAS, the First American CT Treasury Fund invests in U.S. Treasury
securities which is publicly traded and may include repurchase agreements and reverse
repurchase agreements which type of trading must be specifically authorized by the
District pursuant to Government Code Section 53635(i).
NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of the East
Valley Water District does hereby resolve, determine and order as follows:
1. The Auditor/Controller of the East Valley Water District is hereby authorized
to execute the approval to transfer funds presently held in the Bankers Trust Fund to the
First American CT Treasury Fund; and
2. The Board of Directors authorizes that these funds may be invested as
appropriate in repurchase agreements or reverse repurchase agreement as determined by
the manager of the Fund under the direction of First Trust California.
ADOPTED THIS 24th day of January , 1994.
ROLL CALL VOTE;
AYES: Directors: Stoops, Negrete, Sturgeon, Lightfoot, Douglas
NOES: None
ABSENT: None a�
c94
Glenda A. Douglas, Pre dent
ATTEST
Sandra Shepherd, ecretary