RESOLUTION 2003 - 170
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR/TREASURER TO PURCHASE INVESTMENTS FROM AND SELL INVESTMENTS TO CERTAIN INSTITUTIONS ON A COMPETITIVE BASIS
WHEREAS, the Village ordinances and the Village investment policy direct the passage of a resolution by the Village Board of all financial institutions eligible to provide investment services to the Village; and
WHEREAS, the Village will buy or sell certain investments on a competitive basis, after receiving bids or offers; and
WHEREAS, those investments will be delivered to or from the Village’s custodial account associated with the bank account designated by the State Treasurer for Illinois funds; and
WHEREAS, Vernon Hills institutions as well as institutions that have established their competitiveness are included in this list;
NOW THEREFORE BE IT RESOLVED BY THE VILLAGE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF VERNON HILLS, LAKE COUNTY, ILLINOIS: THAT the Finance Director may buy investments from or sell investments to the following institutions for delivery to or from the Village’s custodial account:
LaSalle Bank of Chicago, IL
Harris Bank of Chicago, IL.
First American Bank of Elk Grove Village, IL.
US Bank of St Louis, MO
Firstar Bank of Milwaukee, WI.
National City Bank of Cleveland, OH
Fifth Third Securities of Cincinnati, OH
Bank One of Columbus, OH
FTN Financial of Memphis, TN
Dated the 4th day of November 2003.
Adopted by roll call vote as follows:
ABSENT AND NOT VOTING: