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HomeMy WebLinkAbout1968-05-15; Municipal Water District; Resolution 223RESOLUTION NO. 223 RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARLSBAD MUNICIPAL WATER DISTRICT AUTHORIZING SHORT TERM INVESTMENTS FOR EXCESS FUNDS ON HAND WHEREAS, The Board of Directors of the Carlsbad Municipal Water District have determined that it would be in the best interests of the District to invest excess cash funds on hand on a short term basis. NOW, THEREFORE, the Board of Directors of the Carlsbad Municipal Water District does hereby RESOLVE as follows: RESOLVED that the President, Secretary or Treasurer of the Carlsbad Municipal Water District, or such other person as authorized in writing by said Treasurer, be and they are authorized to make telephonic requests to Security First National Bank, ("Bank") authorizing said bank to transfer funds from the Carlsbad Municipal Water District account to the Investment Department of said bank for the purpose of investing in liquid government securities as instructed by the above named representatives of this District. This verbal instruction is to be confirmed in writing not later than the following normal working day by one of the authorized repre- sentatives. It is understood that the Security First National Bank will not be held responsible for any misinterpretation or error in the transmis- sion of said verbal requests. RESOLVED further, that the authority hereby conferred shall remain in force until revocation thereof, by sealed notification to Bank of such action by the Board of Directors of this corporation, is received by Bank at the office where such account is maintained. ADOPTED, SIGNED AND APPROVED this lsth day of May, 1968. ATTEST : rs of Carlsbad cipal Water Districtl %& u Secretary of the Board of Directors of Carlsbad Municipal Water District STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) ) ss: I I, WILLIAM CARMICHAEL, Secretary of the Board of Directors , of Carlsbad Municipal Water District, DO HEREBY CERTIFY that the foregoing RESOLUTION was duly adopted by the Board of Directors of said District at a regular meeting of said Board held on the 15th day of MAY Y , 1968, and that it was so adopted by the following vote: AYES : Directors . CARMICHAEL, KELLY, PALMER, MAC LEOD, MAERKLE NOES : Directors NONE _- ABSENT : Directors NONE (SEAL) czd--LY Se'ctetary of Carlsbad Municipal Water District and of the Board of Directors thereof.