HomeMy WebLinkAboutGeorgia Extended Asset Pool
Augusta Richmond GA
DOCUMENT NAME: (b aD ~:r' [ 'itend cd Asset l>Do \
DOCUMENT TYPE:'12eso{ (k~i a h
YEAR: 0'2
BOX NUMBER: )7
FILE NUMBER: 1(QL{OI '
NUMBER OF PAGES: Z.
For Customer Use: ;"-~
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I have an eXlstmg eel.
This resolution is for:
New Account
For OTrS Use Only:
r' Acct Approved
-~-Audie
Addr Entered
Approval:
ADI
Res, form 2000A_GEAP
Auth Entered,
Wire Instructions
_Wire Templates
Change to Existing Accl. #
AD2
GEORGIA EXTENDED ASSET POOL
(local government investment pool)
RESOLUTION TO A UTHORIZE INVESTMENT
WHEREAS, OCGA ~~36-83-1 to 8 authorizes Georgia local governments and other authorized
entities to invest funds through the local government investment pool;
WHEREAS, the Georgia Extended Asset 1''001 is a local government investment pool;
WHEREAS, from time to time it may be advantageous to the Augusta-Richmond County
COrisolidated:'GmteImmeThtfax identification #: 58-2204274 to depositfunds available for
~-- - , ---, - (Name of-Local Government, PoliticaiSubdivision or State Agency) - ,--.-. -
investment in the Georgia Extended Asset Pool (hereinafter referred to as GEAP) as it may deem
appropriate;
WHEREAS, to provide for the safety of such funds deposited in GEAP; investments are restricted
to those enumerated by OCGA ~ 50-5A-7 and Chapter 17 of Tide 50 under the direction of the State
Depository Board, considering first the probable safety of capital and then the probable income to be
derived;
WHEREAS, such deposits must first be duly authorized by the governing body of the local
government or authorized entity and a certified copy of the resolution authorizing such investment filed
with the Director of the Office of Treasury an~ Fiscal Services;
WHEREAS, such resolution must name the official(s) authorized to make deposits or withdrawals
of funds in the local government investment pool;
WHEREAS, OCGA ~36-83-8 requires a statement of the approximate cash flow requirements of
the participating government pertaining to the funds to accompany the authorization to invest such funds
at the time such deposits are duly authorized; and,
WHEREAS, GEAP is available to local governments and other public entities that have funds
available for investment for a period of one (1) year or longer, maintain a minimum balance of $1 million,
comply with the minimum transaction size of $25,000, and a one daYl10tice is required for all
transactions. Provided, however, that the Director of OTFS reserves the right to take up to seven
business days to process a transaction if making payment with one day notice would adversely
affect GEAP.
GEAP is managed as a variable net asset value (NA V) fund. 'As a result, the
value of an investment in GEAP will fluctuate over time, and it is possible to lose
money by investing in GEAP. Investments in GEAP are not guaranteed or insured
by any bank, the FDIC, the State of Georgia, or any other government agency.
NOW, THEREFORE BE IT RESOLVED by the Augusta-Richmond County Board of
(Board, Council or other Governing Body) Commi s s ioner
that funds of the All~usta-Ri ~hmond County Consolidated may be deposited from time to
, ( ocal Government, Political Subdivision, or State Agency) Government
time in the manner prescribed by law and the applicable policies and procedures for GEAP.
BElT FURTHER RESOLVED THAT:
1. Anyone of the following individuals shall be authorized to deposit and/or withdraw funds from
, GEAP on behalf of such government or-other authorized entity (if a listed individual is employed
by an entity other than the depositor, indicate employer):
Name, Title (Employer, if applicable)
Tammy Strange, Assistant Finance Director
Kathy Williams, Accountant
Donna Williams, Assistant Finance Director
(Area Code) Phone Number
706 821-2428
706 821-2581
706 821-2338
David PRrsaud, Finan~e Director
706-821-2429
If additional space is needed, please include a separate signed and notarized page with this
resolution.
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2. All withdrawals from GEAP shall be wired to the following participant's demand deposit
account:
First Union Nation~l Bank
(Local Bank Name)
Augusta-Richmond County Concentration
(Account Title)
061000227
2080000702863
(Account Number)
Augusta, GA
(City, State)
(ABA number)
(If applicable) Our local bank prefers to receive credit for WIre transfers at the following
correspondent bank:
(Bank Name) (City) (Account Number)
If additional space is needed, please include a separate signed and notarized page with this
resolution.
3.GEAP shall mail the monthly statements of account to:
Kathy Williams, Accountant
(Attention)
Augusta-Richmond County FlnanceDepartment, Room 207
(Address)
530 Greene Street
Augusta, GA 30911
(Address)
(City, State & Zip)
4. Changes in the above authorization shall be made by cancellation or replacement resolution
delivered to the Office of Treasury and Fiscal Services. Until such a replacement resolution is
received by the Office of Treasury and Fiscal Services, the above-authorized individuals, local
government demand acc~unt instructioI!s and statement-mailing addressees) shall remain in full
force and effect.
5. The following schedule represents the period in which existing balances are cUlTently expected to
remain invested in GEAP:
60
7.,
15
100
% 1.0 to 1.5 years;
% more than 1.5 years but less than 2.0 years;
% 2.0 years or longer.
%
,20_
Entered at
BOB YOUNG
(Please Print or Type - Head of Governing Authority)
MAYOR
(Title)
Sworn to and subscribed before me this /9f::iJ day of
7'la..~ I:) YtJma1l4L
Nota~\!ldBlig~ . mbla County, Georgia
My Commission Expires Aug. 1,2006
Please compl~te and return the original signed and notarized form to:
~h/J<7;)
,20~
GEAP
Office of Treasury and Fiscal Services
P. O. Box 347034
Atlanta, GA 30334-5527
Telephone:
Toll Free:
fax:
(404) 656-2168
1-800-222-6748
(404) 656-9048
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