HomeMy WebLinkAboutRES 4349CITY OF RENTON, WASHINGTON
RESOLUTION NO. 4349
A RESOLUTION OF THE CITY OF RENTON, WASHINGTON, REVOKING THE CITY
COUNCIL'S DELEGATION OF IWEN WANG AS THE AUTHORIZED INDIVIDUAL
DELEGATED TO ADMINISTER THE INVESTMENT OF CITY OF RENTON MONIES IN
THE LOCAL GOVERNMENT INVESTMENT POOL, AND DESIGNATING THE
ADMINISTRATIVE SERVICES ADMINISTRATOR, BY TITLE, AS THE AUTHORIZED
INDIVIDUAL.
WHEREAS, pursuant to Chapter 294, Laws of 1986, the Legislature created a trust fund to
be known as the public funds investment account (commonly referred to as the Local
Government Investment Pool ("LGIP")) for the contribution and withdrawal of money by an
authorized governmental entity for purposes of investment by the Office of the State Treasurer;
and
WHEREAS, the City Council, by Resolution No. 4217, passed on June 23, 2014, authorized
the contribution and withdrawal of City monies in the LGIP in the manner prescribed by law, rule,
and prospectus; and
WHEREAS, the City Council, by Resolution No. 4217, designated Iwen Wang, the former
Administrative Services Administrator, as the "authorized individual" to contribute or withdraw
City of Renton funds in the LGIP, and to authorize all amendments, changes, or alterations to the
Local Government Investment Pool Transaction Authorization Form ("Form") or any other
documentation including the designation of other individuals to make contributions and
withdrawals on behalf of the City; and
WHEREAS, as required by Section IV of Resolution No. 4217, the City Council is required
provide written notice that the authorized individual has been terminated or that his or her
delegation has been revoked;
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RESOLUTION N0. 4349
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO
RESOLVE AS FOLLOWS:
SECTION I. The City Council hereby revokes its delegation of Iwen Wang as the LGIP
authorized individual due to her retirement and termination of employment with the City of
Renton.
SECTION 11. The City hereby designates the Administrative Services Administrator, by
title, as the "authorized individual" to contribute or withdraw City of Renton funds in the LGIP,
and to authorize all amendments, changes, or alterations to the Form or any other
documentation including the designation of other individuals to make contributions and
withdrawals on behalf of the City.
SECTION 11. The City will cause to be filed a certified copy of this resolution with the
Office of the State Treasurer as written notice of the revocation and new designation.
PASSED BY THE CITY COUNCIL this 6th
APPROVED BY THE MAYOR this 6th
day of August
day of
2018.
August . 2018.
Denis Law, Mayor
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Approved as to form:
Shane Moloney, City Attorney
RES:1779:7/25/18:scr
RESOLUTION NO. 4349
Of RE
- * = SEAL -